Short Interest in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) Increases By 80.6%

LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 6,500,000 shares, anincreaseof80.6% from the July 15th total of 3,600,000 shares. Approximately4.9% of the company’s stock are sold short. Based on an average trading volume of 3,140,000 shares, the short-interest ratio is currently 2.1 days. Based on an average trading volume of 3,140,000 shares, the short-interest ratio is currently 2.1 days. Approximately4.9% of the company’s stock are sold short.

LexinFintech Price Performance

LexinFintech stock opened at $6.26 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.89 and a quick ratio of 1.88. The company has a market capitalization of $1.05 billion, a PE ratio of 4.93 and a beta of 0.47. LexinFintech has a one year low of $1.63 and a one year high of $11.64. The business has a 50 day simple moving average of $6.90 and a 200 day simple moving average of $7.90.

LexinFintech (NASDAQ:LX) last posted its earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.20 by $0.20. The business had revenue of $500.62 million during the quarter, compared to the consensus estimate of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 26th will be given a dividend of $0.194 per share. This is a boost from LexinFintech’s previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, August 26th. This represents a dividend yield of 440.0%. LexinFintech’s dividend payout ratio is 14.17%.

LexinFintech declared that its board has approved a stock buyback program on Monday, July 21st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $13.60.

Hedge Funds Weigh In On LexinFintech

Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC bought a new position in LexinFintech in the 4th quarter valued at $508,000. Geode Capital Management LLC raised its position in LexinFintech by 44.7% in the 4th quarter. Geode Capital Management LLC now owns 74,127 shares of the company’s stock valued at $430,000 after purchasing an additional 22,885 shares during the last quarter. Raymond James Financial Inc. bought a new position in LexinFintech in the 4th quarter valued at $157,000. Barclays PLC bought a new position in LexinFintech in the 4th quarter valued at $7,131,000. Finally, NewEdge Advisors LLC bought a new position in LexinFintech in the 4th quarter valued at $166,000.

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.