Lufax Holding Ltd (NYSE: LU – Get a rating) benefited from a significant increase in short-term interest rates in July. As of July 15, there was short interest totaling 26,090,000 shares, an increase of 36.5% from the June 30 total of 19,120,000 shares. Based on an average trading volume of 8,530,000 shares, the short interest ratio is currently 3.1 days.
Institutional investors weigh in on Lufax
Hedge funds and other institutional investors have recently changed their stakes in the company. PNC Financial Services Group Inc. increased its holdings of Lufax shares by 1,344.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company worth $31,000 after purchasing an additional 5,299 shares during the period. Acadian Asset Management LLC acquired a new position in Lufax during the 4th quarter at a value of $42,000. Van ECK Associates Corp increased its stake in Lufax by 81.5% during the fourth quarter. Van ECK Associates Corp now owns 11,399 shares of the company worth $64,000 after purchasing an additional 5,119 shares during the period. CIBC Asset Management Inc bought a new position in Lufax during Q1 worth $64,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Lufax during Q1 worth $68,000. 24.59% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analysts predict growth
A number of stock analysts have recently commented on the company. CICC Research supported Lufax’s coverage in a Monday, May 9 research note. They set an “outperform” rating for the company. Daiwa Capital Markets supported Lufax’s coverage in a Wednesday, July 27 research note. They set a “buy” rating and a price target of $6.40 for the company. Three investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, Lufax currently has an average rating of “Moderate Buy” and a consensus price target of $8.04.
Lufax Price Performance
NYSE:LU opened at $4.58 on Monday. The company has a market capitalization of $10.47 billion, a price/earnings ratio of 4.24, a PEG ratio of 0.48 and a beta of -0.01. Lufax has a 1-year low of $4.09 and a 1-year high of $9.11. The company has a 50-day simple moving average of $5.79 and a 200-day simple moving average of $5.64. The company has a debt ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43.
Lufax (NYSE:LU- Get a rating) last released its quarterly earnings data on Wednesday, May 25. The company reported earnings per share (EPS) of $0.34 for the quarter, beating the consensus estimate of $0.31 by $0.03. The company posted revenue of $2.73 billion in the quarter, versus analyst estimates of $2.57 billion. Lufax had a return on equity of 18.65% and a net margin of 26.75%. During the same period last year, the company achieved EPS of $0.30. Equity analysts expect Lufax to post an EPS of 0.96 for the current year.
Lufax Holding Ltd operates a personal financial services technology platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to 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.
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