LexinFintech (NASDAQ:LX) Upgraded to Buy at Citigroup

Citigroup upgraded shares of LexinFintech (NASDAQ:LX) from a neutral rating to a buy rating in a research note published on Tuesday, MarketBeat reports.

LexinFintech Trading Up 14.8 %

NASDAQ LX opened at $4.90 on Tuesday. The company’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $2.25. The stock has a market cap of $804.24 million, a P/E ratio of 7.78 and a beta of 0.53. LexinFintech has a 52 week low of $1.56 and a 52 week high of $5.07. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.62%. The company had revenue of $500.98 million during the quarter.

Institutional Investors Weigh In On LexinFintech

A number of hedge funds have recently bought and sold shares of LX. Connor Clark & Lunn Investment Management Ltd. grew its holdings in LexinFintech by 25.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company’s stock worth $3,013,000 after acquiring an additional 226,479 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of LexinFintech by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company’s stock worth $1,686,000 after purchasing an additional 55,700 shares during the last quarter. Walleye Capital LLC lifted its position in shares of LexinFintech by 235.5% during the third quarter. Walleye Capital LLC now owns 726,588 shares of the company’s stock worth $1,976,000 after purchasing an additional 510,014 shares during the last quarter. GSA Capital Partners LLP grew its stake in LexinFintech by 3.9% in the third quarter. GSA Capital Partners LLP now owns 435,219 shares of the company’s stock worth $1,184,000 after purchasing an additional 16,312 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in LexinFintech by 33.2% in the second quarter. American Century Companies Inc. now owns 303,931 shares of the company’s stock valued at $501,000 after buying an additional 75,759 shares during the last quarter.

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.