The Vanguard Group, Inc. recently announced the acquisition of new stake in LexinFintech Holdings Ltd. (NASDAQ:LX). The institutional investor has increased its shareholding in the Financial company by 46.16% to 3.33 million shares with purchase of 1.05 million shares. This fresh investment now brings its stake to 2.63% valued currently at $28.33 million. In addition, Light Street Capital Management L.. raised its holdings by 2.88 million to 2.88 million shares. And BAMCO, Inc. has lifted its position by 7.58% or 0.2 million shares – to 2.81 million shares.
With over 1.48 million LexinFintech Holdings Ltd. (LX) shares trading Friday and a closing price of $7.77 on the day, the dollar volume was approximately $11.53 million. The shares have shown a negative weekly performance of -10.79% and its price on 08/28/20 lost nearly -2.39%. Currently, there are 182.24M common shares owned by the public and among those 29.32M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for LX have a consensus price objective of $88.53. The analysts have set the share’s price value over the next 12 months at a high of $124.51 and a low of $61.80 should the stock experience a downside. Incidentally, analysts’ outlook for the LexinFintech Holdings Ltd. stock is 1.80 for the next 12 months. The average price target is 39.06% above its last price level and an upside to the estimated low will see the stock gain 87.43% over that period. But an upside of 93.76% will see the stock hit the forecast high price target while mean target price for the stock is $82.71.
The top 3 mutual fund holders in LexinFintech Holdings Ltd. are Baron Emerging Markets Fund, Vanguard Total International Stoc, and Vanguard Emerging Markets Stock I. Baron Emerging Markets Fund owns 2.34 million shares of the company’s stock, all valued at over $19.89 million. The company bought an additional 0.3 million shares recently to bring their total holdings to about 1.85% of the shares outstanding. Vanguard Total International Stoc sold 7692.0 shares to see its total holdings shrink to 1.56 million shares valued at over $13.24 million and representing 1.23% of the shares outstanding. Vanguard Emerging Markets Stock I bought 16041.0 shares to bring its total holdings to over 1.45 million shares at a value of $12.31 million. Vanguard Emerging Markets Stock I now owns shares totaling to 1.14% of the shares outstanding.
Shares of LexinFintech Holdings Ltd. (NASDAQ: LX) opened at $7.97, up $0.01 from a prior closing price of $7.96. However, the script later closed the day at $7.77, down -2.39%. The company’s stock has a 5-day price change of -10.79% and -9.02% over the past three months. LX shares are trading -44.06% year to date (YTD), with the 12-month market performance down to -20.96% lower. It has a 12-month low price of $6.98 and touched a high of $16.93 over the same period. Currently, 1.48 million shares have been traded, compared to an average intraday trading volume of 2.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.30%, -21.47%, and -27.37% respectively.
Institutional ownership of LexinFintech Holdings Ltd. (NASDAQ: LX) shares accounts for 37.00% of the company’s 182.24M shares outstanding. Mutual fund holders own 15.11%, while other institutional holders and individual stakeholders account for 20.12% and — respectively.
It has a market capitalization of $1.44B. The stock’s trailing 12-month PE ratio is 11.24, while the earnings-per-share (ttm) stands at $0.69. The company has a PEG of 4.76 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 2.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.84% over the week and 6.06% over the month.
Analysts forecast that LexinFintech Holdings Ltd. (LX) will achieve an EPS of $0.4 for the current quarter, $0.59 for the next quarter and $2.06 for 2021. The lowest estimate earnings-per-share for the quarter is $0.4 while analysts give the company a high EPS estimate of $0.4. Comparatively, EPS for the current quarter was $0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 12.00%, and 136.28% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate LexinFintech Holdings Ltd. (LX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 1 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LX, a number of firms have released research notes about the stock. CLSA stated their Outperform rating for the stock in a research note on July 16, 2020, with the firm’s price target at $13. China Renaissance coverage for the LexinFintech Holdings Ltd. (LX) stock in a research note released on June 16, 2020 offered a Buy rating with a price target of $13. Citigroup was of a view on June 09, 2020 that the stock is Buy, while China Renaissance gave the stock Hold rating on March 06, 2020, issuing a price target of. Credit Suisse on their part issued Outperform rating on October 09, 2019.