American Century Companies Inc. grew its stake in shares of LexinFintech Holdings Ltd. (NASDAQ:LX) by 29.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,685 shares of the company’s stock after buying an additional 6,092 shares during the quarter. American Century Companies Inc.’s holdings in LexinFintech were worth $327,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in LX. Cederberg Capital Ltd bought a new stake in shares of LexinFintech in the first quarter worth about $79,276,000. Oceanlink Management LTD. grew its stake in shares of LexinFintech by 51.6% in the first quarter. Oceanlink Management LTD. now owns 15,513,116 shares of the company’s stock worth $156,062,000 after purchasing an additional 5,277,634 shares during the last quarter. FIL Ltd grew its stake in shares of LexinFintech by 77.8% in the first quarter. FIL Ltd now owns 3,090,540 shares of the company’s stock worth $31,090,000 after purchasing an additional 1,352,353 shares during the last quarter. Prince Street Capital Management LLC bought a new stake in shares of LexinFintech in the first quarter worth about $10,351,000. Finally, Tiger Pacific Capital LP bought a new stake in shares of LexinFintech in the first quarter worth about $9,351,000. 25.74% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on LX shares. DBS Vickers cut LexinFintech from a “buy” rating to a “hold” rating and set a $7.20 target price on the stock. in a research note on Thursday, August 26th. Zacks Investment Research cut LexinFintech from a “hold” rating to a “sell” rating in a research report on Tuesday, September 14th. Morgan Stanley raised LexinFintech from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.30 to $18.00 in a research report on Monday, June 14th. Finally, Citigroup cut their price objective on LexinFintech from $18.55 to $9.89 and set a “buy” rating on the stock in a research report on Thursday, August 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, LexinFintech currently has an average rating of “Hold” and an average price target of $11.33.
LexinFintech (NASDAQ:LX) last released its earnings results on Tuesday, August 24th. The company reported $4.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $1.35. LexinFintech had a net margin of 19.06% and a return on equity of 39.51%. The firm had revenue of $506.28 million during the quarter. As a group, sell-side analysts forecast that LexinFintech Holdings Ltd. will post 2.15 earnings per share for the current fiscal year.
LexinFintech Company Profile
Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.
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