LexinFintech (NASDAQ:LX) Sets New 52-Week High – What’s Next?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) hit a new 52-week high on Thursday . The company traded as high as $11.59 and last traded at $11.56, with a volume of 3784729 shares trading hands. The stock had previously closed at $10.84.

Wall Street Analysts Forecast Growth

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

LexinFintech Stock Performance

The firm’s 50 day moving average is $8.82 and its 200-day moving average is $5.74. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 1.66.

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

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 16th. Investors of record on Thursday, April 17th will be given a dividend of $0.11 per share. This represents a dividend yield of 1.2%. This is a boost from LexinFintech’s previous semi-annual dividend of $0.07. The ex-dividend date is Thursday, April 17th. LexinFintech’s payout ratio is presently 18.89%.

Institutional Investors Weigh In On LexinFintech

Large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in shares of LexinFintech in the 4th quarter worth $1,371,000. Public Employees Retirement System of Ohio raised its stake in LexinFintech by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 185,988 shares of the company’s stock worth $1,079,000 after purchasing an additional 14,227 shares during the period. Voloridge Investment Management LLC acquired a new position in LexinFintech in the 4th quarter valued at about $2,565,000. Squarepoint Ops LLC purchased a new stake in shares of LexinFintech in the 4th quarter valued at approximately $230,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of LexinFintech during the 4th quarter worth approximately $1,053,000.

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.