Short Interest in Lufax Holding Ltd (NYSE:LU) Decreases By 16.5%

Lufax Holding Ltd (NYSE:LU – Get Rating) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 19,760,000 shares, a decline of 16.5% from the April 15th total of 23,660,000 shares. Based on an average daily volume of 11,110,000 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on LU shares. Citigroup lowered shares of Lufax from a “buy” rating to a “neutral” rating and dropped their price target for the company from $3.52 to $2.04 in a research report on Monday, March 13th. Macquarie cut Lufax from a “neutral” rating to an “underperform” rating and set a $1.50 price objective for the company. in a research report on Tuesday, March 14th. Finally, HSBC decreased their target price on Lufax from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, March 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.57.

Lufax Stock Performance

LU opened at $1.52 on Friday. The stock has a market cap of $3.48 billion, a PE ratio of 2.76, a P/E/G ratio of 1.41 and a beta of 0.56. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.06. Lufax has a 1 year low of $1.26 and a 1 year high of $7.05. The stock’s 50 day simple moving average is $1.88 and its 200-day simple moving average is $2.09.

Lufax Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 7th were paid a $0.05 dividend. This represents a dividend yield of 9.9%. The ex-dividend date of this dividend was Wednesday, April 5th. Lufax’s dividend payout ratio is 16.36%.

Institutional Trading of Lufax

Institutional investors have recently made changes to their positions in the business. First Trust Direct Indexing L.P. bought a new position in Lufax during the first quarter worth about $25,000. PDS Planning Inc bought a new position in shares of Lufax during the 1st quarter worth approximately $27,000. Sequoia Financial Advisors LLC acquired a new stake in Lufax in the 1st quarter valued at $30,000. PNC Financial Services Group Inc. raised its stake in Lufax by 1,344.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,693 shares of the company’s stock worth $31,000 after acquiring an additional 5,299 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Lufax during the fourth quarter valued at $31,000. 15.24% of the stock is currently owned by institutional investors and hedge funds.

Lufax Company Profile

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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.