LexinFintech (LX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of LexinFintech (NASDAQ:LX) from a hold rating to a sell rating in a report released on Thursday.

According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “

LX has been the subject of a number of other research reports. Goldman Sachs Group upgraded shares of LexinFintech from a neutral rating to a buy rating in a research note on Wednesday, November 21st. Bank of America dropped their price objective on shares of LexinFintech from $21.00 to $18.00 and set a buy rating for the company in a research note on Monday, August 27th.

NASDAQ:LX traded down $0.18 during trading hours on Thursday, hitting $8.69. 8,129 shares of the company traded hands, compared to its average volume of 325,778. The stock has a market cap of $1.52 billion and a P/E ratio of 39.32. LexinFintech has a twelve month low of $8.56 and a twelve month high of $20.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.10.

LexinFintech (NASDAQ:LX) last released its earnings results on Wednesday, November 14th. The company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $1.69. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.65 billion. LexinFintech had a net margin of 15.33% and a return on equity of 47.96%. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that LexinFintech will post 0.82 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. FMR LLC bought a new stake in shares of LexinFintech in the 3rd quarter worth about $10,586,000. Krane Funds Advisors LLC grew its holdings in shares of LexinFintech by 18.2% in the 3rd quarter. Krane Funds Advisors LLC now owns 461,492 shares of the company’s stock worth $4,583,000 after purchasing an additional 71,028 shares during the last quarter. Elephas Investment Management Ltd bought a new stake in shares of LexinFintech in the 3rd quarter worth about $1,575,000. Bank of America Corp DE bought a new stake in shares of LexinFintech in the 2nd quarter worth about $1,250,000. Finally, Marshall Wace LLP bought a new stake in shares of LexinFintech in the 3rd quarter worth about $941,000. Institutional investors own 6.71% of the company’s stock.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.

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