QRG Capital Management Inc. Sells 12,966 Shares of LexinFintech Holdings Ltd. Sponsored ADR $LX

QRG Capital Management Inc. cut its holdings in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 41.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,644 shares of the company’s stock after selling 12,966 shares during the period. QRG Capital Management Inc.’s holdings in LexinFintech were worth $134,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in LexinFintech in the first quarter worth $103,000. Janney Montgomery Scott LLC bought a new stake in LexinFintech in the second quarter worth $75,000. CreativeOne Wealth LLC bought a new stake in LexinFintech in the first quarter worth $107,000. Ballentine Partners LLC bought a new stake in LexinFintech in the second quarter worth $86,000. Finally, Ritholtz Wealth Management bought a new stake in LexinFintech in the first quarter worth $164,000.

LexinFintech Price Performance

LX stock opened at $5.01 on Monday. The firm’s 50-day moving average price is $6.00 and its two-hundred day moving average price is $7.01. LexinFintech Holdings Ltd. Sponsored ADR has a 12-month low of $2.63 and a 12-month high of $11.64. The stock has a market capitalization of $843.00 million, a price-to-earnings ratio of 3.94 and a beta of 0.45. The company has a current ratio of 1.89, a quick ratio of 1.88 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.20. LexinFintech had a net margin of 11.50% and a return on equity of 14.67%. The company had revenue of $500.62 million for the quarter, compared to analysts’ expectations of $500.62 million.

LexinFintech declared that its Board of Directors has initiated a stock repurchase plan on Monday, July 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

LexinFintech Increases Dividend

The business also recently declared 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 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 was Tuesday, August 26th. LexinFintech’s dividend payout ratio is presently 24.41%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LX shares. Wall Street Zen raised shares of LexinFintech from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings restated a “hold (c+)” rating on shares of LexinFintech in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

About LexinFintech

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.