LexinFintech (NASDAQ:LX) Reports Results
Lexin Fintech (NASDAQ:LX – Get a rating) released its financial results on Monday. The company reported earnings per share (EPS) of $3.72 for the quarter, beating the consensus estimate of $2.92 by $0.80, Loyalty Earnings reports. LexinFintech had a net margin of 20.47% and a return on equity of 32.63%. In the same quarter of the previous year, the company made earnings per share of $0.53.
LX opened at $2.02 on Wednesday. LexinFintech has a fifty-two week low of $1.89 and a fifty-two week high of $13.62. The company has a debt ratio of 0.32, a quick ratio of 1.63 and a current ratio of 1.63. The company has a fifty-day moving average of $2.52 and a two-hundred-day moving average of $3.29. The stock has a market capitalization of $371.42 million, a price-earnings ratio of 1.15 and a beta of 0.72.
Several research analysts have recently released reports on the stock. Citigroup downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating in a report on Tuesday. CLSA downgraded shares of LexinFintech from an “outperform” rating to a “sell” rating in a report released Wednesday. To finish, Zacks Investment Research cut shares of LexinFintech from a “hold” rating to a “strong sell” rating in a Tuesday, April 12 report. Two investment analysts have assigned the stock a sell rating, three have assigned a hold rating and one has assigned the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.85.
Several hedge funds and other institutional investors have recently changed their positions in the company. BNP Paribas Arbitrage SA increased its position in LexinFintech shares by 1,462.3% in the first quarter. BNP Paribas Arbitrage SA now owns 99,988 shares of the company valued at $262,000 after purchasing an additional 93,588 shares during the period. Goldman Sachs Group Inc. increased its position in LexinFintech shares by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 366,996 shares of the company valued at $962,000 after purchasing an additional 78,379 shares during the period. Wellington Management Group LLP acquired a new equity stake in LexinFintech in the first quarter worth approximately $896,000. State Street Corp increased its position in LexinFintech shares by 7.0% in the first quarter. State Street Corp now owns 1,287,271 shares of the company valued at $3,373,000 after purchasing an additional 84,091 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in LexinFintech during the first quarter worth approximately $129,000. Institutional investors and hedge funds own 31.56% of the company’s shares.
About Lexin Fintech (Get a rating)
LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer and consumer finance platform for young professionals in the People’s Republic of China. The Company operates Fenqile.com, a consumer finance and consumer finance platform that offers installment loans, personal installment loans and other loan products, as well as online direct sales with installment payment terms. ; and Le Card, a membership platform, which offers savings, benefits and membership privileges to the food and beverage, apparel, hospitality and leisure industries.
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