Wall Street Zen Downgrades LexinFintech (NASDAQ:LX) to Hold

LexinFintech (NASDAQ:LX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

LexinFintech Stock Performance

NASDAQ LX opened at $6.32 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 4.98 and a beta of 0.47. LexinFintech has a twelve month low of $1.63 and a twelve month high of $11.64. The stock has a fifty day simple moving average of $6.78 and a 200 day simple moving average of $7.81. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 announced that its board has authorized a share buyback plan on Monday, July 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of LexinFintech

A number of institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its position in LexinFintech by 2.2% during the first quarter. Invesco Ltd. now owns 118,893 shares of the company’s stock valued at $1,200,000 after acquiring an additional 2,616 shares during the last quarter. D Orazio & Associates Inc. boosted its position in LexinFintech by 10.5% during the first quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company’s stock valued at $366,000 after acquiring an additional 3,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in LexinFintech by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company’s stock valued at $466,000 after acquiring an additional 4,639 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in LexinFintech by 146.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock valued at $71,000 after acquiring an additional 7,227 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in LexinFintech by 350.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after acquiring an additional 7,756 shares during the last quarter.

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.