Penserra Capital Management LLC reduced its stake in LexinFintech Holdings Ltd – (NASDAQ:LX) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,673 shares of the company’s stock after selling 21,117 shares during the period. Penserra Capital Management LLC’s holdings in LexinFintech were worth $1,734,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in LexinFintech in the third quarter valued at approximately $187,000. Raymond James & Associates purchased a new position in LexinFintech in the second quarter valued at approximately $294,000. Jane Street Group LLC purchased a new position in LexinFintech in the second quarter valued at approximately $448,000. Bank of America Corp DE purchased a new position in LexinFintech in the second quarter valued at approximately $1,250,000. Finally, Krane Funds Advisors LLC purchased a new position in LexinFintech in the second quarter valued at approximately $4,783,000. Institutional investors own 6.95% of the company’s stock.
Shares of LX opened at $9.68 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.01. LexinFintech Holdings Ltd – has a 12-month low of $9.11 and a 12-month high of $20.00.
LexinFintech (NASDAQ:LX) last announced its earnings results on Thursday, August 23rd. The company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $269.47 million for the quarter. As a group, analysts expect that LexinFintech Holdings Ltd – will post 0.98 earnings per share for the current year.
Several brokerages have commented on LX. Zacks Investment Research upgraded shares of LexinFintech from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 27th. Bank of America lowered their target price on shares of LexinFintech from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 27th.
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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