LexinFintech (NASDAQ:LX) Shares Up 4.4% – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price rose 4.4% on Friday . The stock traded as high as $3.31 and last traded at $3.31. Approximately 759,371 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,589,139 shares. The stock had previously closed at $3.17.

LexinFintech Trading Up 1.6 %

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 business has a 50-day simple moving average of $2.83 and a 200-day simple moving average of $2.13. The company has a market cap of $528.50 million, a PE ratio of 4.81 and a beta of 0.53.

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

LexinFintech Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 16th were issued a $0.072 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a dividend yield of 6.9%. This is a boost from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s payout ratio is 19.40%.

Institutional Investors Weigh In On LexinFintech

Hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its holdings in LexinFintech by 38.7% in the first quarter. QRG Capital Management Inc. now owns 54,606 shares of the company’s stock valued at $98,000 after acquiring an additional 15,245 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of LexinFintech by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,424,065 shares of the company’s stock valued at $2,555,000 after purchasing an additional 199,824 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of LexinFintech during the 1st quarter worth $30,000. Virtu Financial LLC acquired a new position in shares of LexinFintech during the first quarter worth $149,000. Finally, Kathmere Capital Management LLC purchased a new position in LexinFintech in the second quarter valued at $36,000.

LexinFintech Company 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.