Lufax Holding Ltd (NYSE: LU) benefited from a sharp decline in overdraft interest in December. As of December 15, there was short interest totaling 14,800,000 shares, a decrease of 30.2% from the total of 21,210,000 shares as of November 30. Based on an average daily trading volume of 7,660,000 shares, the day-to-coverage ratio is currently 1.9 days.
A number of hedge funds and other institutional investors have recently changed their holdings to LU. Morgan Stanley increased its position in Lufax by 11.1% during the 1st quarter. Morgan Stanley now owns 72,669 shares of the company valued at $ 1,056,000 after purchasing an additional 7,264 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Lufax during the second quarter valued at $ 150,000. American Century Companies Inc. increased its position in Lufax by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 25,561 shares of the company valued at $ 289,000 after purchasing 1,422 additional shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Lufax shares by 94.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 67,619 shares of the company valued at $ 764,000 after acquiring 32,766 additional shares during the last quarter. Finally, Souders Financial Advisors increased its position in Lufax shares by 9.6% in the second quarter. Souders Financial Advisors now owns 39,795 shares of the company valued at $ 450,000 after acquiring 3,499 additional shares in the last quarter. 9.15% of the shares are held by institutional investors and hedge funds.
READ open for $ 5.26 Friday. The company has a quick ratio of 1.54, a current ratio of 1.54, and a debt ratio of 0.12. The company has a fifty-day moving average of $ 6.21 and a 200-day moving average of $ 7.63. The stock has a market cap of $ 12.95 billion, a P / E ratio of 5.06, a PEG ratio of 0.32 and a beta of 1.22. Lufax has a minimum of $ 4.73 over 52 weeks and a maximum of $ 18.30 over 52 weeks.
Lufax (NYSE: LU) last released its results on Tuesday, November 9. The company reported earnings per share of $ 0.26 for the quarter, missing Zacks’ consensus estimate of $ 1.56 ($ 1.30). The company posted revenue of $ 2.47 billion for the quarter, compared to a consensus estimate of $ 2.41 billion. Lufax had a net margin of 28.26% and a return on equity of 19.55%. Stock analysts predict that Lufax will post 1.07 EPS for the current fiscal year.
Several brokerages recently commented on LU. Sanford C. Bernstein upgraded Lufax shares from an “underperformance” rating to a “market performance” rating and set a price target of $ 6.00 on the stock in a report released on Tuesday, November 2. Zacks investment research downgraded Lufax from a “buy” rating to a “conservation” rating in a report released Wednesday, November 17. Three stock research analysts rated the stock with a conservation rating and five gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $ 14.02.
Lufax Holding Ltd operates a technology-based personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer credit loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions.
Featured Article: Oversold
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Lufax now?
Before you consider Lufax, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Lufax was not on the list.
While Lufax currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here