LexinFintech (NASDAQ:LX) Shares Down 6%

LexinFintech Holdings Ltd. (NASDAQ:LX)’s stock price fell 6% during trading on Thursday . The stock traded as low as $9.70 and last traded at $9.70. 25,391 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,833,058 shares. The stock had previously closed at $10.32.

Several research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of LexinFintech from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $15.30 to $18.00 in a report on Monday, June 14th. Zacks Investment Research upgraded shares of LexinFintech from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Wednesday, May 12th. Finally, CICC Research began coverage on shares of LexinFintech in a report on Wednesday, May 5th. They set an “outperform” rating and a $12.80 target price for the company. Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $12.57.

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.78 billion, a PE ratio of 6.97, a P/E/G ratio of 0.71 and a beta of 0.90. The stock’s fifty day moving average price is $10.82.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings results on Monday, May 31st. The company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $1.96. LexinFintech had a net margin of 16.51% and a return on equity of 37.40%. The company had revenue of $449.29 million for the quarter. On average, analysts predict that LexinFintech Holdings Ltd. will post 2.16 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Carroll Financial Associates Inc. boosted its position in LexinFintech by 94.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 4,048 shares of the company’s stock worth $40,000 after buying an additional 1,968 shares during the period. US Bancorp DE raised its holdings in LexinFintech by 18.8% during the 1st quarter. US Bancorp DE now owns 8,351 shares of the company’s stock worth $84,000 after purchasing an additional 1,321 shares during the last quarter. Russell Investments Group Ltd. bought a new position in LexinFintech during the 1st quarter worth approximately $94,000. Y Intercept Hong Kong Ltd bought a new position in LexinFintech during the 1st quarter worth approximately $100,000. Finally, LPL Financial LLC raised its holdings in LexinFintech by 6.4% during the 4th quarter. LPL Financial LLC now owns 15,781 shares of the company’s stock worth $106,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 24.96% of the company’s stock.

About LexinFintech (NASDAQ:LX)

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumption and consumer finance platform for young professionals in the People's Republic of China. The company operates Fenqile.com, a consumption and consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms; and Le Card, a membership platform, which offers savings, benefits, and membership privileges to food and beverage, apparel, hospitality, and leisure sectors.

Read More: Why do companies pay special dividends?

Receive News & Ratings for LexinFintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LexinFintech and related companies with MarketBeat.com's FREE daily email newsletter.