LexinFintech Holdings Ltd. Sponsored ADR $LX Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in LexinFintech Holdings Ltd. Sponsored ADR (NASDAQ:LX) by 50.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 718,218 shares of the company’s stock after acquiring an additional 239,705 shares during the period. Allianz Asset Management GmbH’s holdings in LexinFintech were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LexinFintech by 65.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,818 shares of the company’s stock worth $31,000 after acquiring an additional 2,296 shares during the period. Tower Research Capital LLC TRC grew its stake in LexinFintech by 350.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,969 shares of the company’s stock valued at $72,000 after acquiring an additional 7,756 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of LexinFintech in the second quarter valued at about $75,000. Quantbot Technologies LP acquired a new stake in LexinFintech in the 2nd quarter worth about $107,000. Finally, Tidal Investments LLC acquired a new stake in shares of LexinFintech in the second quarter worth approximately $115,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LX shares. Weiss Ratings restated a “hold (c)” rating on shares of LexinFintech in a research report on Monday, December 29th. Wall Street Zen downgraded LexinFintech from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, UBS Group downgraded shares of LexinFintech from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.60 to $3.50 in a research note on Thursday, December 4th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, LexinFintech has an average rating of “Hold” and a consensus target price of $3.50.

LexinFintech Price Performance

LexinFintech stock opened at $2.96 on Wednesday. LexinFintech Holdings Ltd. Sponsored ADR has a 12-month low of $2.62 and a 12-month high of $11.64. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The stock has a market cap of $498.05 million, a P/E ratio of 2.08 and a beta of 0.74. The company has a fifty day simple moving average of $3.11 and a 200-day simple moving average of $4.55.

About LexinFintech

LexinFintech Holdings Ltd. (NASDAQ: LX) is a China-based consumer finance and digital banking platform primarily serving young, underbanked consumers. The company’s core offering is point-of-sale installment financing, enabling eligible customers to split purchases into fixed monthly payments with transparent fees. Leveraging proprietary data analytics and credit scoring models, LexinFintech underwrites consumer loans for online purchases and provides credit lines that support a variety of retail and e-commerce transactions.

In addition to its flagship installment loan service, LexinFintech has developed wealth management and fintech-as-a-service products.