LexinFintech (NASDAQ:LX) Upgraded at Citigroup

Citigroup upgraded shares of LexinFintech (NASDAQ:LX) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports.

LexinFintech Trading Up 25.6 %

Shares of LX opened at $4.27 on Tuesday. The firm’s 50-day moving average price is $3.08 and its 200-day moving average price is $2.21. The firm has a market capitalization of $700.84 million, a price-to-earnings ratio of 6.37 and a beta of 0.53. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. LexinFintech has a 1-year low of $1.56 and a 1-year high of $4.70.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.19 EPS for the quarter. The business had revenue of $500.98 million for the quarter. LexinFintech had a net margin of 5.80% and a return on equity of 8.16%.

LexinFintech Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 16th were issued a dividend of $0.072 per share. This represents a dividend yield of 6.9%. This is a boost from LexinFintech’s previous Semi-Annual dividend of $0.07. The ex-dividend date was Monday, September 16th. LexinFintech’s payout ratio is presently 17.91%.

Institutional Trading of LexinFintech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LX. Walleye Capital LLC boosted its position in shares of LexinFintech by 235.5% in the third 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 during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of LexinFintech by 25.7% in the third 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 during the period. Public Employees Retirement System of Ohio bought a new position in shares of LexinFintech in the third quarter worth approximately $467,000. Quadrature Capital Ltd bought a new position in shares of LexinFintech in the third quarter worth approximately $397,000. Finally, Virtu Financial LLC bought a new position in shares of LexinFintech in the first quarter worth approximately $149,000.

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.