LexinFintech Holdings Ltd. Sponsored ADR $LX Stock Holdings Lowered by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 26.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,910 shares of the company’s stock after selling 12,296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in LexinFintech were worth $244,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of LexinFintech by 2.2% in the first quarter. Invesco Ltd. now owns 118,893 shares of the company’s stock valued at $1,200,000 after buying an additional 2,616 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of LexinFintech during the first quarter worth $103,000. Janney Montgomery Scott LLC acquired a new stake in shares of LexinFintech during the second quarter worth $75,000. CreativeOne Wealth LLC purchased a new stake in shares of LexinFintech during the first quarter valued at $107,000. Finally, Ballentine Partners LLC acquired a new position in shares of LexinFintech in the 2nd quarter valued at $86,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut LexinFintech from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of LexinFintech in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.60.

LexinFintech Trading Down 1.7%

Shares of NASDAQ LX opened at $4.07 on Friday. 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 Holdings Ltd. Sponsored ADR has a one year low of $3.10 and a one year high of $11.64. The business has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $6.44. The firm has a market capitalization of $684.82 million, a PE ratio of 3.20 and a beta of 0.51.

LexinFintech announced that its board has initiated a share repurchase program on Monday, July 21st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are often 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.