LexinFintech (NASDAQ:LX) Shares Gap Up – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $3.02, but opened at $3.17. LexinFintech shares last traded at $3.14, with a volume of 503,496 shares.

LexinFintech Trading Up 0.7 %

The company’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $1.88. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.22. The company has a market cap of $498.96 million, a price-to-earnings ratio of 3.97 and a beta of 0.56.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $500.98 million during the quarter. LexinFintech had a return on equity of 8.16% and a net margin of 5.80%.

LexinFintech Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.072 per share. The ex-dividend date is Monday, September 16th. This represents a yield of 6.9%. This is a positive change from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s dividend payout ratio is currently 15.79%.

Hedge Funds Weigh In On LexinFintech

A number of large investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new position in shares of LexinFintech during the first quarter valued at $30,000. Kathmere Capital Management LLC bought a new position in shares of LexinFintech in the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in shares of LexinFintech during the 3rd quarter worth approximately $122,000. QRG Capital Management Inc. raised its stake in shares of LexinFintech by 38.7% during the first quarter. QRG Capital Management Inc. now owns 54,606 shares of the company’s stock worth $98,000 after buying an additional 15,245 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in LexinFintech in the first quarter valued at approximately $149,000.

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.