LexinFintech (NASDAQ:LX) Trading 6.7% Higher – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX) shares traded up 6.7% on Friday . The stock traded as high as $9.56 and last traded at $9.54. 2,532,350 shares changed hands during trading, a decline of 11% from the average session volume of 2,847,383 shares. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 26th.

LexinFintech Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.53 billion, a P/E ratio of 14.82 and a beta of 0.66. The business’s 50 day simple moving average is $6.90 and its 200 day simple moving average is $4.30.

LexinFintech (NASDAQ:LX) last released its earnings results on Monday, November 25th. The company reported $0.26 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

Institutional Trading of LexinFintech

Institutional investors and hedge funds have recently bought and sold shares of the stock. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of LexinFintech during the 4th quarter worth approximately $23,142,000. Arrowstreet Capital Limited Partnership raised its stake in LexinFintech by 237.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock valued at $21,478,000 after purchasing an additional 2,606,969 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in LexinFintech by 21.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,751 shares of the company’s stock valued at $10,409,000 after purchasing an additional 315,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of LexinFintech by 35.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,500,533 shares of the company’s stock valued at $8,703,000 after purchasing an additional 392,870 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in LexinFintech during the 4th quarter valued at $7,687,000.

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.