Acadian Asset Management LLC Buys 663,330 Shares of LexinFintech Holdings Ltd. Sponsored ADR $LX

Acadian Asset Management LLC lifted its stake in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 16.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,669,331 shares of the company’s stock after acquiring an additional 663,330 shares during the quarter. Acadian Asset Management LLC’s holdings in LexinFintech were worth $47,092,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of LexinFintech by 115.9% during the 4th quarter. Bank of America Corp DE now owns 1,134,716 shares of the company’s stock valued at $6,581,000 after acquiring an additional 609,233 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of LexinFintech by 188,730.8% in the fourth quarter. BNP Paribas Financial Markets now owns 122,740 shares of the company’s stock worth $712,000 after acquiring an additional 122,675 shares during the period. BRIGHT VALLEY CAPITAL Ltd boosted its stake in shares of LexinFintech by 33.0% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 5,305,208 shares of the company’s stock worth $53,530,000 after acquiring an additional 1,315,208 shares during the period. Man Group plc bought a new position in shares of LexinFintech in the fourth quarter worth about $549,000. Finally, Ritholtz Wealth Management bought a new position in shares of LexinFintech in the first quarter worth about $164,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research note on Sunday, August 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, LexinFintech has an average rating of “Buy” and an average price target of $13.60.

LexinFintech Stock Performance

LX stock opened at $5.78 on Thursday. LexinFintech Holdings Ltd. Sponsored ADR has a twelve month low of $1.63 and a twelve month high of $11.64. The firm has a market cap of $972.54 million, a price-to-earnings ratio of 4.55 and a beta of 0.54. The business’s fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $7.67. 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 (NASDAQ:LX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.20 by $0.20. The firm had revenue of $500.62 million for the quarter, compared to analyst estimates 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 of Directors has approved a stock repurchase plan on Monday, July 21st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

LexinFintech Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.194 per share. This is an increase from LexinFintech’s previous semi-annual dividend of $0.11. This represents a dividend yield of 440.0%. The ex-dividend date is Tuesday, August 26th. LexinFintech’s payout ratio is 24.41%.

LexinFintech 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.