LexinFintech (NASDAQ:LX) Shares Gap Down – Here’s Why

LexinFintech Holdings Ltd. (NASDAQ:LX) shares gapped down prior to trading on Friday . The stock had previously closed at $3.30, but opened at $3.18. LexinFintech shares last traded at $3.33, with a volume of 497,973 shares trading hands.

LexinFintech Trading Up 4.2 %

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 business has a 50 day simple moving average of $2.96 and a two-hundred day simple moving average of $2.17. The stock has a market cap of $564.61 million, a price-to-earnings ratio of 4.93 and a beta of 0.53.

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

LexinFintech Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 16th were issued a dividend of $0.072 per share. This represents a yield of 6.9%. The ex-dividend date was Monday, September 16th. This is an increase from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s dividend payout ratio (DPR) is currently 17.91%.

Hedge Funds Weigh In On LexinFintech

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of LexinFintech during the 1st quarter worth approximately $149,000. American Century Companies Inc. lifted its stake in LexinFintech by 33.2% in the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after buying an additional 75,759 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in shares of LexinFintech during the second quarter valued at $36,000. Renaissance Technologies LLC grew its position in shares of LexinFintech by 5.8% during the second 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of LexinFintech in the 3rd quarter worth about $122,000.

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.