LexinFintech Holdings Ltd. Sponsored ADR $LX Stock Holdings Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 60.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,147 shares of the company’s stock after selling 98,281 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in LexinFintech were worth $470,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. BRIGHT VALLEY CAPITAL Ltd increased its holdings in shares of LexinFintech by 33.0% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company’s stock valued at $53,530,000 after acquiring an additional 1,315,208 shares during the last quarter. Ritholtz Wealth Management acquired a new position in LexinFintech in the first quarter worth $164,000. Squarepoint Ops LLC bought a new stake in LexinFintech during the fourth quarter valued at $230,000. Vanguard Group Inc. acquired a new stake in shares of LexinFintech during the first quarter worth $44,048,000. Finally, Allianz Asset Management GmbH bought a new position in shares of LexinFintech in the 1st quarter worth about $4,455,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LexinFintech in a research report on Saturday, September 27th. Wall Street Zen upgraded LexinFintech from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, LexinFintech presently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

LexinFintech Trading Down 7.4%

LexinFintech stock opened at $5.24 on Monday. LexinFintech Holdings Ltd. Sponsored ADR has a 52-week low of $2.63 and a 52-week high of $11.64. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $881.68 million, a price-to-earnings ratio of 4.13 and a beta of 0.45. The firm has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $7.21.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results 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 company had revenue of $500.62 million for the quarter, compared to analysts’ expectations of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th were paid a $0.194 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This is a positive change from LexinFintech’s previous semi-annual dividend of $0.11. This represents a dividend yield of 440.0%. LexinFintech’s dividend payout ratio (DPR) is currently 24.41%.

LexinFintech announced that its Board of Directors has authorized a share repurchase plan on Monday, July 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.