Lufax Holding Ltd (NYSE:LU – Get Rating) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 35,520,000 shares, a growth of 35.0% from the November 30th total of 26,320,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 17,270,000 shares, the days-to-cover ratio is presently 2.1 days.
Lufax Price Performance
Lufax stock traded down $0.06 during trading hours on Friday, hitting $1.94. The stock had a trading volume of 10,250,711 shares, compared to its average volume of 17,705,560. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 2.46 and a beta of 0.17. Lufax has a 1-year low of $1.26 and a 1-year high of $7.05. The stock’s fifty day moving average is $1.84 and its two-hundred day moving average is $3.40.
Lufax Dividend Announcement
The business also recently disclosed a semi-annual dividend, which was paid on Friday, October 28th. Investors of record on Thursday, October 13th were paid a dividend of $0.17 per share. This represents a dividend yield of 11%. The ex-dividend date was Wednesday, October 12th. Lufax’s payout ratio is currently 37.97%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on LU shares. China Renaissance downgraded Lufax from a “buy” rating to a “hold” rating and set a $3.10 price objective for the company. in a report on Thursday, September 29th. JPMorgan Chase & Co. cut Lufax from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $6.40 to $1.60 in a research note on Friday, November 25th. Morgan Stanley cut Lufax from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $7.00 to $1.52 in a research note on Thursday, December 1st. CLSA upgraded Lufax from a “sell” rating to a “buy” rating in a research note on Monday, November 14th. Finally, Daiwa Capital Markets cut Lufax from a “buy” rating to a “hold” rating in a research note on Friday, November 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.07.
Institutional Trading of Lufax
Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lufax during the first quarter valued at $663,000. Capital Fund Management S.A. acquired a new stake in Lufax in the 1st quarter worth about $1,063,000. Renaissance Technologies LLC boosted its stake in Lufax by 73.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,438,900 shares of the company’s stock worth $20,633,000 after buying an additional 1,458,400 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Lufax in the 2nd quarter worth about $457,000. Finally, Aviva PLC boosted its stake in Lufax by 56.7% in the 2nd quarter. Aviva PLC now owns 401,200 shares of the company’s stock worth $2,407,000 after buying an additional 145,200 shares during the last quarter. Institutional investors and hedge funds own 15.24% of the company’s stock.
Lufax Company Profile
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.
Further Reading
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