LexinFintech (NASDAQ:LX) Sets New 52-Week High – Here’s What Happened

LexinFintech Holdings Ltd. (NASDAQ:LX)’s share price reached a new 52-week high on Thursday . The company traded as high as $8.67 and last traded at $8.46, with a volume of 2905228 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of LexinFintech from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 26th.

LexinFintech Price Performance

The firm has a market capitalization of $1.42 billion, a PE ratio of 13.69 and a beta of 0.66. The firm’s fifty day moving average price is $6.56 and its 200 day moving average price is $4.03. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

LexinFintech (NASDAQ:LX) last posted its earnings results on Monday, November 25th. The company reported $0.26 EPS for the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

Institutional Investors Weigh In On LexinFintech

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of LexinFintech by 237.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company’s stock valued at $21,478,000 after acquiring an additional 2,606,969 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in LexinFintech by 35.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,500,533 shares of the company’s stock valued at $8,703,000 after purchasing an additional 392,870 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in LexinFintech in the 4th quarter valued at $7,687,000. Hel Ved Capital Management Ltd acquired a new stake in LexinFintech during the 4th quarter worth $6,554,000. Finally, Schroder Investment Management Group purchased a new stake in shares of LexinFintech during the fourth quarter worth $5,301,000.

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.