LexinFintech (NASDAQ:LX) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of LexinFintech (NASDAQ:LX) from a neutral rating to a buy rating in a research report released on Tuesday, Marketbeat.com reports.

LexinFintech Stock Performance

Shares of LX opened at $4.27 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $700.84 million, a P/E ratio of 6.37 and a beta of 0.53. The firm’s fifty day simple moving average is $3.08 and its two-hundred day simple moving average is $2.21. LexinFintech has a 12 month low of $1.56 and a 12 month high of $4.70.

LexinFintech (NASDAQ:LX) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.19 earnings per share (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 company also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 16th were paid a $0.072 dividend. This is a positive change from LexinFintech’s previous Semi-Annual dividend of $0.07. The ex-dividend date of this dividend was Monday, September 16th. This represents a yield of 6.9%. LexinFintech’s dividend payout ratio (DPR) is 17.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LX. Virtu Financial LLC bought a new position in LexinFintech in the 3rd quarter valued at $74,000. Public Employees Retirement System of Ohio bought a new position in LexinFintech in the 3rd quarter valued at $467,000. XTX Topco Ltd bought a new position in LexinFintech in the 3rd quarter valued at $196,000. Jane Street Group LLC boosted its holdings in LexinFintech by 32.9% in the 3rd quarter. Jane Street Group LLC now owns 266,547 shares of the company’s stock valued at $725,000 after purchasing an additional 65,964 shares during the period. Finally, Wolverine Trading LLC bought a new position in LexinFintech in the 3rd quarter valued at $29,000.

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.