LexinFintech (NASDAQ:LX) Trading Down 9.5% - Here's Why

LexinFintech Holdings Ltd. (NASDAQ:LX - Get Free Report) dropped 9.5% on Friday . The company traded as low as $3.52 and last traded at $3.54. Approximately 1,159,407 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 1,557,324 shares. The stock had previously closed at $3.91.

LexinFintech Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.77 and a quick ratio of 1.77. The company has a fifty day moving average of $2.68 and a 200 day moving average of $2.07. The firm has a market capitalization of $592.51 million, a P/E ratio of 5.39 and a beta of 0.53.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.19 earnings per share for the quarter. The firm had revenue of $500.98 million during the quarter. LexinFintech had a return on equity of 8.16% and a net margin of 5.80%.

LexinFintech Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 16th were issued a dividend of $0.072 per share. The ex-dividend date was Monday, September 16th. This represents a dividend yield of 6.9%. This is a positive change from LexinFintech's previous Semi-Annual dividend of $0.07. LexinFintech's dividend payout ratio is currently 17.91%.

Institutional Investors Weigh In On LexinFintech

A number of hedge funds have recently added to or reduced their stakes in LX. Acadian Asset Management LLC lifted its position in LexinFintech by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,424,065 shares of the company's stock valued at $2,555,000 after acquiring an additional 199,824 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LexinFintech by 25.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,107,663 shares of the company's stock worth $3,013,000 after purchasing an additional 226,479 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of LexinFintech by 5.8% in the second quarter. Renaissance Technologies LLC now owns 1,021,700 shares of the company's stock valued at $1,686,000 after purchasing an additional 55,700 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of LexinFintech by 3.9% during the third quarter. GSA Capital Partners LLP now owns 435,219 shares of the company's stock valued at $1,184,000 after buying an additional 16,312 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in LexinFintech by 33.2% during the second quarter. American Century Companies Inc. now owns 303,931 shares of the company's stock worth $501,000 after buying an additional 75,759 shares in the last quarter.

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.