LexinFintech (NASDAQ:LX) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of LexinFintech (NASDAQ:LX) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings downgraded shares of LexinFintech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, LexinFintech has an average rating of “Hold” and a consensus price target of $3.50.

LexinFintech Stock Performance

Shares of LexinFintech stock opened at $1.46 on Friday. The company has a 50 day moving average of $1.91 and a 200-day moving average of $2.34. LexinFintech has a 1-year low of $1.41 and a 1-year high of $7.06. The company has a current ratio of 2.03, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $244.55 million, a PE ratio of 1.27 and a beta of 0.82.

Institutional Investors Weigh In On LexinFintech

A number of institutional investors have recently added to or reduced their stakes in LX. Anatole Investment Management Ltd raised its stake in shares of LexinFintech by 79.6% during the fourth quarter. Anatole Investment Management Ltd now owns 4,870,383 shares of the company’s stock valued at $15,926,000 after acquiring an additional 2,159,246 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of LexinFintech by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,642,573 shares of the company’s stock worth $24,745,000 after purchasing an additional 94,490 shares during the last quarter. Man Group plc increased its holdings in LexinFintech by 28.2% in the third quarter. Man Group plc now owns 4,384,533 shares of the company’s stock valued at $23,370,000 after purchasing an additional 964,562 shares during the period. Alliancebernstein L.P. increased its holdings in LexinFintech by 4.1% in the second quarter. Alliancebernstein L.P. now owns 3,865,830 shares of the company’s stock valued at $27,873,000 after purchasing an additional 150,511 shares during the period. Finally, Bank of America Corp DE raised its position in LexinFintech by 320.4% during the 3rd quarter. Bank of America Corp DE now owns 3,861,508 shares of the company’s stock worth $20,582,000 after purchasing an additional 2,942,964 shares during the last quarter.

LexinFintech Company Profile

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.