Ballentine Partners LLC Purchases Shares of 11,886 LexinFintech Holdings Ltd. Sponsored ADR $LX

Ballentine Partners LLC bought a new position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,886 shares of the company’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. acquired a new position in LexinFintech in the 4th quarter valued at about $61,000. Squarepoint Ops LLC purchased a new stake in LexinFintech in the 4th quarter valued at approximately $230,000. Public Employees Retirement System of Ohio boosted its holdings in LexinFintech by 8.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 185,988 shares of the company’s stock valued at $1,079,000 after purchasing an additional 14,227 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in LexinFintech in the 1st quarter valued at approximately $164,000. Finally, D Orazio & Associates Inc. boosted its holdings in LexinFintech by 10.5% in the 1st quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company’s stock valued at $366,000 after purchasing an additional 3,440 shares in the last quarter.

LexinFintech Stock Down 1.1%

NASDAQ:LX opened at $5.33 on Wednesday. The company has a market capitalization of $896.85 million, a price-to-earnings ratio of 4.20 and a beta of 0.54. LexinFintech Holdings Ltd. Sponsored ADR has a one year low of $2.63 and a one year high of $11.64. The stock has a 50-day simple moving average of $6.22 and a 200 day simple moving average of $7.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.89.

LexinFintech (NASDAQ:LX) last issued its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.20. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%. The firm had revenue of $500.62 million for the quarter, compared to analysts’ expectations of $500.62 million.

LexinFintech declared that its Board of Directors has initiated a share buyback program on Monday, July 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

LexinFintech Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th were issued a $0.194 dividend. This is an increase from LexinFintech’s previous semi-annual dividend of $0.11. This represents a yield of 440.0%. The ex-dividend date of this dividend was Tuesday, August 26th. LexinFintech’s dividend payout ratio is 24.41%.

Analyst Ratings Changes

Separately, Wall Street Zen raised LexinFintech from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LexinFintech has an average rating of “Buy” and a consensus target price of $13.60.

LexinFintech Profile

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.