X Financial’s (NYSE:XYF) lock-up period will end on Monday, March 18th. X Financial had issued 11,000,000 shares in its IPO on September 19th. The total size of the offering was $104,500,000 based on an initial share price of $9.50. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Separately, Zacks Investment Research cut X Financial from a “hold” rating to a “strong sell” rating in a research report on Sunday, January 6th.
Shares of XYF stock opened at $6.35 on Monday. X Financial has a 1 year low of $4.15 and a 1 year high of $20.30.
Several hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of X Financial during the 3rd quarter valued at $100,000. Jane Street Group LLC acquired a new position in shares of X Financial during the 3rd quarter valued at $146,000. Citadel Advisors LLC acquired a new position in shares of X Financial during the 3rd quarter valued at $332,000. Dean Capital Investments Management LLC acquired a new position in shares of X Financial during the 3rd quarter valued at $452,000. Finally, Norges Bank acquired a new position in shares of X Financial during the 4th quarter valued at $1,345,000. Institutional investors own 1.55% of the company’s stock.
About X Financial
X Financial provides personal finance services in the People's Republic of China. The company offers a suite of products connecting borrowers and investors through a proprietary Internet platform. It provides loan products, which include Xiaoying card loan and Xiaoying preferred loan; and investment opportunities through wealth management platform, Xiaoying wealth management with insurance protection.
Further Reading: Recession
Receive News & Ratings for X Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for X Financial and related companies with MarketBeat.com's FREE daily email newsletter.