LexinFintech (NASDAQ:LX) Stock Price Down 8.3% – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) fell 8.3% during mid-day trading on Monday . The stock traded as low as $10.30 and last traded at $10.19. 1,670,912 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 2,581,035 shares. The stock had previously closed at $11.11.

Analyst Ratings Changes

Separately, UBS Group set a $13.60 price objective on shares of LexinFintech and gave the stock a “buy” rating in a report on Friday, March 21st.

LexinFintech Trading Down 9.2 %

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.02 and a beta of 0.60. 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 fifty day moving average of $8.82 and a two-hundred day moving average of $5.80.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results on Tuesday, March 18th. The company reported $0.28 EPS for the quarter. The company had revenue of $501.26 million for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

LexinFintech Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 17th will be given a $0.11 dividend. This represents a yield of 1.2%. This is a positive change from LexinFintech’s previous semi-annual dividend of $0.07. The ex-dividend date is Thursday, April 17th. LexinFintech’s dividend payout ratio (DPR) is currently 18.89%.

Institutional Investors Weigh In On LexinFintech

Hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of LexinFintech in the 4th quarter worth approximately $29,000. Wolverine Trading LLC bought a new position in LexinFintech in the third quarter worth $29,000. Centiva Capital LP bought a new position in LexinFintech in the third quarter worth $41,000. Ameriprise Financial Inc. acquired a new stake in LexinFintech during the fourth quarter worth $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of LexinFintech in the fourth quarter valued at $70,000.

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.