LexinFintech Target of Unusually Large Options Trading (NASDAQ:LX)

LexinFintech Holdings Ltd – (NASDAQ:LX) saw some unusual options trading activity on Thursday. Traders bought 2,466 call options on the company. This represents an increase of 2,469% compared to the typical volume of 96 call options.

A number of hedge funds and other institutional investors have recently modified their holdings of LX. Bamco Inc. NY bought a new position in LexinFintech in the 2nd quarter worth $22,876,000. Renaissance Technologies LLC raised its holdings in LexinFintech by 278.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,558,528 shares of the company’s stock worth $17,393,000 after purchasing an additional 1,146,514 shares in the last quarter. GAM Holding AG bought a new position in LexinFintech in the 2nd quarter worth $11,641,000. Bank of America Corp DE grew its position in shares of LexinFintech by 842.2% in the 2nd quarter. Bank of America Corp DE now owns 1,106,935 shares of the company’s stock worth $12,354,000 after buying an additional 989,450 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new stake in shares of LexinFintech in the 2nd quarter worth about $7,924,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

Shares of NASDAQ LX opened at $10.63 on Friday. LexinFintech has a 12 month low of $6.48 and a 12 month high of $14.66. The firm has a market capitalization of $1.76 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.97. The firm has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $11.47.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings data on Friday, August 30th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.42 by ($2.92). LexinFintech had a return on equity of 52.70% and a net margin of 26.86%. The company had revenue of $969.60 million during the quarter. During the same period in the previous year, the business earned $1.39 EPS. The company’s quarterly revenue was up 53.8% on a year-over-year basis. Research analysts expect that LexinFintech will post 1.75 EPS for the current year.

A number of research firms recently commented on LX. Zacks Investment Research lowered shares of LexinFintech from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Bank of America upped their price objective on shares of LexinFintech from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. ValuEngine lowered shares of LexinFintech from a “sell” rating to a “strong sell” rating in a report on Saturday. TheStreet lowered shares of LexinFintech from a “c-” rating to a “d+” rating in a report on Friday, October 11th. Finally, BOCOM International started coverage on shares of LexinFintech in a report on Thursday, October 10th. They issued a “buy” rating and a $12.34 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. LexinFintech presently has a consensus rating of “Buy” and an average price target of $15.32.

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.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

Featured Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Receive News & Ratings for LexinFintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LexinFintech and related companies with MarketBeat.com's FREE daily email newsletter.