Lufax Holding Ltd (NYSE:LU) Sees Significant Drop in Short Interest

Lufax Holding Ltd (NYSE:LUGet Rating) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 16,550,000 shares, a decrease of 37.3% from the March 31st total of 26,400,000 shares. Based on an average daily trading volume, of 10,510,000 shares, the days-to-cover ratio is presently 1.6 days.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Lufax from a “buy” rating to a “hold” rating in a report on Thursday, March 17th. Macquarie cut Lufax from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Wednesday, March 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.01.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LU. Morgan Stanley lifted its position in shares of Lufax by 1,592.0% in the second quarter. Morgan Stanley now owns 1,229,550 shares of the company’s stock valued at $13,895,000 after acquiring an additional 1,156,881 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Lufax by 19.3% during the third quarter. Asset Management One Co. Ltd. now owns 22,866 shares of the company’s stock worth $159,000 after buying an additional 3,699 shares in the last quarter. Van ECK Associates Corp purchased a new position in Lufax during the third quarter worth approximately $44,000. Deutsche Bank AG lifted its position in Lufax by 33.7% during the third quarter. Deutsche Bank AG now owns 590,705 shares of the company’s stock worth $4,124,000 after buying an additional 148,735 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Lufax by 463.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,612 shares of the company’s stock worth $39,000 after buying an additional 4,616 shares in the last quarter. Institutional investors and hedge funds own 24.30% of the company’s stock.

LU stock traded up $0.23 during mid-day trading on Friday, reaching $5.55. 10,206,075 shares of the company’s stock were exchanged, compared to its average volume of 5,873,758. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 5.34, a price-to-earnings-growth ratio of 0.27 and a beta of 0.30. The stock’s 50 day moving average is $5.77 and its 200 day moving average is $5.89. Lufax has a 12-month low of $4.09 and a 12-month high of $13.04.

Lufax (NYSE:LUGet Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $2.48 billion for the quarter. Lufax had a return on equity of 18.93% and a net margin of 27.08%. During the same quarter in the prior year, the company posted $0.19 EPS. Analysts predict that Lufax will post 1.23 earnings per share for the current year.

The company also recently announced an annual dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, April 8th were given a $0.68 dividend. The ex-dividend date of this dividend was Thursday, April 7th. Lufax’s dividend payout ratio (DPR) is presently 30.77%.

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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