X Financial Shares Downgraded to “Hold” by Wall Street Zen

X Financial (NYSE:XYF) has received a downgrade from a buy rating to a hold rating by Wall Street Zen, according to a research note released on Saturday morning. This change reflects a cautious outlook on the company’s stock, which is also echoed by a separate downgrade from Weiss Ratings, which lowered its rating from “buy (b-)” to “hold (c+)” on November 19, 2023. As a result, X Financial now holds a consensus rating of “Hold,” as reported by MarketBeat.com.

Recent Financial Performance

X Financial announced its earnings results on November 20, 2023, reporting earnings per share (EPS) of $1.43 for the quarter, alongside a revenue figure of $275.45 million. The company demonstrated strong financial health with a return on equity of 24.56% and a net margin of 22.75%.

Institutional interest in X Financial has seen notable activity, with several hedge funds adjusting their holdings in the company. Hhlr Advisors LTD. acquired a new stake valued at approximately $720,000 during the first quarter. Additionally, Acadian Asset Management LLC increased its holdings in X Financial by 29.4%, now owning 107,272 shares worth about $1.534 million after purchasing an additional 24,395 shares.

In the second quarter, Jump Financial LLC purchased a new position valued at around $697,000. Meanwhile, Russell Investments Group Ltd. made a significant move in the third quarter, lifting its stake by 468.4% and currently owning 33,780 shares valued at approximately $457,000. Additionally, BNP Paribas Financial Markets acquired a new stake valued at $105,000. Currently, institutional investors and hedge funds hold 1.15% of X Financial’s stock.

About X Financial

X Financial provides personal finance services primarily in the People’s Republic of China. The company operates as an online marketplace, facilitating connections between borrowers and investors or institutional funding partners. Among its loan products are the Xiaoying credit loan, which includes the Xiaoying card loan, and the Xiaoying preferred loan tailored for small business owners.

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