LexinFintech (NASDAQ:LX) Sets New 12-Month High – Time to Buy?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.07 and last traded at $5.02, with a volume of 11940535 shares changing hands. The stock had previously closed at $4.27.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday.

LexinFintech Stock Up 14.3 %

The stock’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $2.21. The firm has a market capitalization of $800.95 million, a P/E ratio of 7.76 and a beta of 0.53. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.19 EPS for the quarter. The company had revenue of $500.98 million during the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.62%.

LexinFintech Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 16th were issued a dividend of $0.072 per share. This is an increase from LexinFintech’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, September 16th. LexinFintech’s payout ratio is currently 20.64%.

Hedge Funds Weigh In On LexinFintech

Hedge funds have recently modified their holdings of the company. Wolverine Trading LLC purchased a new stake in LexinFintech in the third quarter worth about $29,000. Kathmere Capital Management LLC purchased a new stake in shares of LexinFintech in the second quarter worth $36,000. Centiva Capital LP purchased a new stake in shares of LexinFintech in the third quarter worth $41,000. Virtu Financial LLC purchased a new stake in shares of LexinFintech in the third quarter worth $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of LexinFintech in the third quarter worth $122,000.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.