QRG Capital Management Inc. Cuts Position in LexinFintech Holdings Ltd. Sponsored ADR $LX

QRG Capital Management Inc. lessened its holdings in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 41.0% during the second quarter, Holdings Channel.com reports. The firm owned 18,644 shares of the company’s stock after selling 12,966 shares during the quarter. QRG Capital Management Inc.’s holdings in LexinFintech were worth $134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BRIGHT VALLEY CAPITAL Ltd grew its holdings in 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 purchasing an additional 1,315,208 shares during the period. Ritholtz Wealth Management purchased a new stake in LexinFintech in the first quarter worth about $164,000. Acadian Asset Management LLC grew its holdings in shares of LexinFintech by 16.6% during the first quarter. Acadian Asset Management LLC now owns 4,669,331 shares of the company’s stock valued at $47,092,000 after buying an additional 663,330 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $4,455,000. Finally, Vanguard Group Inc. purchased a new stake in shares of LexinFintech during the first quarter valued at approximately $44,048,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LX shares. Wall Street Zen upgraded shares of LexinFintech from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LexinFintech in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.60.

LexinFintech Stock Down 3.3%

Shares of LexinFintech stock opened at $5.01 on Monday. The company has a market cap of $843.00 million, a price-to-earnings ratio of 3.94 and a beta of 0.45. The company’s 50 day moving average is $6.00 and its 200 day moving average is $7.01. LexinFintech Holdings Ltd. Sponsored ADR has a twelve month low of $2.63 and a twelve month high of $11.64. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.20. The company had revenue of $500.62 million for the quarter, compared to the consensus estimate of $500.62 million. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%.

LexinFintech Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, August 26th were given a dividend of $0.194 per share. This represents a yield of 440.0%. This is a positive change from LexinFintech’s previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, August 26th. LexinFintech’s payout ratio is currently 24.41%.

LexinFintech declared that its Board of Directors has authorized a share buyback plan on Monday, July 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.