LexinFintech (NASDAQ:LX) Sets New 12-Month High – Time to Buy?

LexinFintech Holdings Ltd. (NASDAQ:LX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $5.07 and last traded at $5.02, with a volume of 11940535 shares trading hands. The stock had previously closed at $4.27.

Analysts Set New Price Targets

Separately, Citigroup raised LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday.

LexinFintech Price Performance

The firm has a market cap of $800.95 million, a price-to-earnings ratio of 7.76 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. The company has a 50 day moving average of $3.08 and a 200 day moving average of $2.21.

LexinFintech (NASDAQ:LX) last released its earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $500.98 million during the quarter. LexinFintech had a return on equity of 7.62% and a net margin of 5.34%.

LexinFintech Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 16th were issued a dividend of $0.072 per share. This represents a yield of 6.9%. The ex-dividend date was Monday, September 16th. This is a boost from LexinFintech’s previous Semi-Annual dividend of $0.07. LexinFintech’s dividend payout ratio is 20.64%.

Hedge Funds Weigh In On LexinFintech

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 valued at $3,013,000 after acquiring an additional 226,479 shares in the last quarter. Virtu Financial LLC bought a new position in LexinFintech during the first quarter worth about $149,000. American Century Companies Inc. grew its holdings in LexinFintech by 33.2% during the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock worth $501,000 after purchasing an additional 75,759 shares during the period. Kathmere Capital Management LLC bought a new position in LexinFintech during the second quarter worth about $36,000. Finally, Renaissance Technologies LLC grew its holdings in LexinFintech by 5.8% during 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 period.

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.