LexinFintech (NASDAQ:LX) Shares Gap Up to $3.45

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) gapped up before the market opened on Wednesday . The stock had previously closed at $3.45, but opened at $3.97. LexinFintech shares last traded at $3.94, with a volume of 12,469,139 shares traded.

LexinFintech Trading Down 1.4 %

The business’s fifty day moving average is $1.79 and its 200 day moving average is $1.78. The firm has a market capitalization of $558.04 million, a price-to-earnings ratio of 5.18 and a beta of 0.53. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.22.

LexinFintech (NASDAQ:LX) last announced its earnings results 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 business had revenue of $500.98 million for the quarter.

LexinFintech Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a dividend yield of 6.9%. This is an increase from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s payout ratio is currently 15.79%.

Hedge Funds Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently made changes to their positions in LX. Paloma Partners Management Co bought a new position in LexinFintech during the first quarter worth about $30,000. Kathmere Capital Management LLC acquired a new stake in shares of LexinFintech in the second quarter valued at approximately $36,000. QRG Capital Management Inc. boosted its stake in shares of 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 during the period. Virtu Financial LLC acquired a new position in shares of LexinFintech during the 1st quarter worth approximately $149,000. Finally, American Century Companies Inc. raised its stake in LexinFintech by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after acquiring an additional 75,759 shares during the period.

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.