LexinFintech (NASDAQ:LX) Upgraded to Buy at Wall Street Zen

LexinFintech (NASDAQ:LX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

LexinFintech Trading Up 2.9%

NASDAQ:LX opened at $6.75 on Friday. The stock’s 50 day moving average price is $6.86 and its 200 day moving average price is $7.87. The company has a market capitalization of $1.14 billion, a PE ratio of 5.32 and a beta of 0.47. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.11. LexinFintech has a 52-week low of $1.63 and a 52-week high of $11.64.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.20. The firm had revenue of $500.62 million for the quarter, compared to the consensus estimate of $500.62 million. LexinFintech had a return on equity of 14.67% and a net margin of 11.50%.

LexinFintech declared that its board has initiated a share repurchase program on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of LexinFintech

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in LexinFintech by 2.2% during the 1st quarter. Invesco Ltd. now owns 118,893 shares of the company’s stock worth $1,200,000 after acquiring an additional 2,616 shares during the period. D Orazio & Associates Inc. lifted its position in LexinFintech by 10.5% during the 1st quarter. D Orazio & Associates Inc. now owns 36,241 shares of the company’s stock worth $366,000 after acquiring an additional 3,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in LexinFintech by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,206 shares of the company’s stock worth $466,000 after acquiring an additional 4,639 shares during the period. Tower Research Capital LLC TRC lifted its position in LexinFintech by 146.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,160 shares of the company’s stock worth $71,000 after acquiring an additional 7,227 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in LexinFintech by 350.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock worth $72,000 after acquiring an additional 7,756 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.