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

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) 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 Stock Performance

The stock’s 50 day simple moving average is $2.16 and its two-hundred day simple moving average is $1.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $467.77 million, a P/E ratio of 3.75 and a beta of 0.56.

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

LexinFintech Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 16th will be given a $0.072 dividend. This represents a yield of 6.9%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s dividend payout ratio (DPR) is currently 15.79%.

Hedge Funds Weigh In On LexinFintech

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in shares of LexinFintech by 38.7% in the first quarter. QRG Capital Management Inc. now owns 54,606 shares of the company’s stock worth $98,000 after purchasing an additional 15,245 shares in the last quarter. Acadian Asset Management LLC increased its stake in 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 buying an additional 199,824 shares during the last quarter. Paloma Partners Management Co bought a new stake in LexinFintech during the 1st quarter worth about $30,000. Virtu Financial LLC acquired a new position in shares of LexinFintech during the 1st quarter worth about $149,000. Finally, Kathmere Capital Management LLC bought a new position in shares of LexinFintech in the 2nd quarter valued at about $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.