LexinFintech (NASDAQ:LX) Sees Strong Trading Volume – What’s Next?

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) saw strong trading volume on Friday . 3,352,722 shares traded hands during mid-day trading, an increase of 193% from the previous session’s volume of 1,142,725 shares.The stock last traded at $3.73 and had previously closed at $3.40.

LexinFintech Price Performance

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 company has a market cap of $597.43 million, a PE ratio of 4.79 and a beta of 0.56. The firm has a 50 day moving average of $1.89 and a two-hundred day moving average of $1.81.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $500.98 million during the quarter. LexinFintech had a return on equity of 8.16% and a net margin of 5.80%.

LexinFintech Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 16th will be issued a $0.072 dividend. The ex-dividend date is Monday, September 16th. This is a boost from LexinFintech’s previous Semi-Annual dividend of $0.07. This represents a yield of 6.9%. LexinFintech’s payout ratio is 15.79%.

Hedge Funds Weigh In On LexinFintech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LX. Acadian Asset Management LLC lifted its stake in LexinFintech by 16.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,424,065 shares of the company’s stock valued at $2,555,000 after acquiring an additional 199,824 shares during the period. Virtu Financial LLC purchased a new position in shares of LexinFintech during the first quarter valued at approximately $149,000. American Century Companies Inc. lifted its position in LexinFintech by 33.2% during the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after purchasing an additional 75,759 shares during the period. Renaissance Technologies LLC boosted its holdings in LexinFintech by 5.8% in the second quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock worth $1,686,000 after purchasing an additional 55,700 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in LexinFintech in the third quarter worth approximately $122,000.

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.