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

LexinFintech Holdings Ltd. (NASDAQ:LX) shot up 4.4% during mid-day trading on Monday . The stock traded as high as $3.08 and last traded at $3.08. 323,136 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,414,347 shares. The stock had previously closed at $2.95.

LexinFintech Trading Down 3.9 %

The company’s 50-day moving average price is $2.25 and its 200-day moving average price is $1.92. 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 firm has a market cap of $525.22 million, a price-to-earnings ratio of 4.38 and a beta of 0.56.

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

LexinFintech Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 16th were paid a $0.072 dividend. This represents a dividend yield of 6.9%. This is an increase from LexinFintech’s previous Semi-Annual dividend of $0.07. The ex-dividend date of this dividend was Monday, September 16th. LexinFintech’s payout ratio is 15.79%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in shares of LexinFintech by 16.3% in the first 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. Renaissance Technologies LLC grew its holdings in LexinFintech by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock worth $1,686,000 after acquiring an additional 55,700 shares in the last quarter. American Century Companies Inc. grew its holdings in LexinFintech by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock worth $501,000 after acquiring an additional 75,759 shares in the last quarter. Virtu Financial LLC acquired a new position in LexinFintech during the 1st quarter worth approximately $149,000. Finally, QRG Capital Management Inc. grew its holdings in LexinFintech by 38.7% during the 1st quarter. QRG Capital Management Inc. now owns 54,606 shares of the company’s stock worth $98,000 after acquiring an additional 15,245 shares in the last quarter.

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.