LexinFintech (NASDAQ:LX) Reaches New 52-Week High – Here’s Why

Shares of LexinFintech Holdings Ltd. (NASDAQ:LX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.59 and last traded at $11.56, with a volume of 3784729 shares trading hands. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

Separately, UBS Group set a $13.60 price target on LexinFintech and gave the stock a “buy” rating in a research report on Friday, March 21st.

LexinFintech Stock Performance

The company has a 50 day moving average of $8.63 and a 200 day moving average of $5.63. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 18.40 and a beta of 0.60.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Tuesday, March 18th. The company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $501.26 million during the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%.

LexinFintech Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.11 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from LexinFintech’s previous semi-annual dividend of $0.07. LexinFintech’s dividend payout ratio (DPR) is currently 24.44%.

Hedge Funds Weigh In On LexinFintech

Hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in LexinFintech during the fourth quarter worth about $29,000. Wolverine Trading LLC bought a new position in shares of LexinFintech during the third quarter valued at approximately $29,000. Centiva Capital LP acquired a new stake in shares of LexinFintech during the 3rd quarter worth approximately $41,000. Ameriprise Financial Inc. bought a new stake in shares of LexinFintech in the 4th quarter worth approximately $61,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in LexinFintech during the 4th quarter valued at approximately $70,000.

LexinFintech Company 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.