Redwood Wealth Management Group LLC Takes Position in LexinFintech Holdings Ltd. (NASDAQ:LX)

Redwood Wealth Management Group LLC acquired a new stake in shares of LexinFintech Holdings Ltd. (NASDAQ:LX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 61,855 shares of the company’s stock, valued at approximately $359,000.

A number of other hedge funds have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in LexinFintech by 25.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock worth $3,013,000 after purchasing an additional 226,479 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in LexinFintech in the 3rd quarter worth about $467,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in LexinFintech in the 4th quarter worth about $445,000. Walleye Capital LLC grew its position in LexinFintech by 235.5% in the 3rd quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock worth $1,976,000 after purchasing an additional 510,014 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in LexinFintech in the 3rd quarter worth about $397,000.

Wall Street Analyst Weigh In

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

LexinFintech Stock Up 3.9 %

LexinFintech stock opened at $8.02 on Wednesday. LexinFintech Holdings Ltd. has a twelve month low of $1.56 and a twelve month high of $8.50. The firm has a 50 day moving average price of $6.21 and a 200-day moving average price of $3.78. The company has a market capitalization of $1.32 billion, a P/E ratio of 12.73 and a beta of 0.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10.

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%.

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.