Lufax Holding Ltd (NYSE:LU) Short Interest Update

Posted by on Jun 1st, 2022

Lufax Holding Ltd (NYSE:LU – Get Rating) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 13,550,000 shares, a drop of 15.9% from the April 30th total of 16,110,000 shares. Based on an average daily trading volume, of 10,330,000 shares, the days-to-cover ratio is presently 1.3 days.

A number of research firms have weighed in on LU. Macquarie cut Lufax from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Wednesday, March 9th. CICC Research assumed coverage on Lufax in a research report on Monday, May 9th. They set an “outperform” rating for the company. Finally, Zacks Investment Research cut Lufax from a “buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.86.

Shares of NYSE:LU traded down $0.36 during midday trading on Wednesday, reaching $5.93. The company’s stock had a trading volume of 165,236 shares, compared to its average volume of 6,546,546. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of -0.02. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.12. Lufax has a 1 year low of $4.09 and a 1 year high of $13.04. The business has a 50 day moving average price of $5.67 and a 200 day moving average price of $5.72.

Lufax (NYSE:LU – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Lufax had a return on equity of 18.54% and a net margin of 26.75%. During the same period in the prior year, the company earned $0.30 earnings per share. Sell-side analysts anticipate that Lufax will post 1.16 earnings per share for the current fiscal year.

The company also recently announced an annual dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 8th were issued a $0.68 dividend. The ex-dividend date was Thursday, April 7th. Lufax’s payout ratio is currently 29.63%.

A number of institutional investors have recently modified their holdings of LU. Baillie Gifford & Co. lifted its stake in shares of Lufax by 34.6% during the fourth quarter. Baillie Gifford & Co. now owns 26,496,135 shares of the company’s stock worth $149,173,000 after purchasing an additional 6,812,317 shares in the last quarter. Korea Investment CORP increased its holdings in Lufax by 13,721.6% during the 4th quarter. Korea Investment CORP now owns 91,361 shares of the company’s stock worth $514,000 after purchasing an additional 90,700 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Lufax by 69.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,715,265 shares of the company’s stock valued at $20,917,000 after purchasing an additional 1,527,654 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Lufax by 34.6% during the 4th quarter. Russell Investments Group Ltd. now owns 147,617 shares of the company’s stock valued at $830,000 after buying an additional 37,936 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Lufax by 38.8% during the third quarter. Capital World Investors now owns 53,365,330 shares of the company’s stock worth $372,490,000 after buying an additional 14,913,603 shares in the last quarter. Hedge funds and other institutional investors own 24.59% of the company’s stock.

Lufax Company Profile (Get Rating)

Lufax Holding Ltd operates a technology-empowered personal financial services platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer finance 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 offers small business owners with lending solutions; and technology empowerment solutions for financial institutions.

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