Lufax Holding Ltd (NYSE:LU) sees a significant drop in short-term interest


Lufax Holding Ltd (NYSE:LU – Get Rating) was the target of a sharp decline in short interest in April. As of April 15, there was short interest totaling 16,550,000 shares, down 37.3% from the March 31 total of 26,400,000 shares. Based on an average daily trading volume of 10,510,000 shares, the day-to-cover ratio is currently 1.6 days.

Several equity research analysts have weighed in on the company. Zacks Investment Research upgraded Lufax from a “buy” rating to a “hold” rating in a Thursday, March 17 report. Macquarie downgraded Lufax from an “outperform” rating to a “neutral” rating and set a price target of $5.00 for the company. in a Wednesday, March 9 research note. Four analysts gave the stock a hold rating and two gave the company a buy rating. 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 increased or reduced their stakes in LU. Morgan Stanley increased its position in Lufax shares by 1,592.0% in the second quarter. Morgan Stanley now owns 1,229,550 shares of the company valued at $13,895,000 after acquiring 1,156,881 additional shares in the last quarter. Asset Management One Co. Ltd. raised its position in Lufax by 19.3% in the third quarter. Asset Management One Co. Ltd. now owns 22,866 shares of the company worth $159,000 after purchasing an additional 3,699 shares last quarter. Van ECK Associates Corp bought a new position in Lufax during the third quarter worth approximately $44,000. Deutsche Bank AG increased its position in Lufax by 33.7% during the third quarter. Deutsche Bank AG now owns 590,705 shares of the company worth $4,124,000 after buying an additional 148,735 shares last quarter. Finally, PNC Financial Services Group Inc. increased its position in Lufax by 463.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,612 shares of the company worth $39,000 after purchasing an additional 4,616 shares last quarter. Institutional investors and hedge funds hold 24.30% of the company’s shares.

LU stock traded down $0.23 at midday on Friday, hitting $5.55. 10,206,075 shares of the company were traded, with an average volume of 5,873,758. The company has a market capitalization of $13.67 billion, a price/earnings ratio of 5.34, a price/earnings ratio of growth 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:LU – Get Rating) last released its quarterly results on Wednesday, March 9. The company reported earnings per share (EPS) of $0.22 for the quarter, beating analyst consensus estimates of $0.20 by $0.02. The company posted revenue of $2.48 billion for the quarter. Lufax had a return on equity of 18.93% and a net margin of 27.08%. In the same quarter a year earlier, the company posted EPS of $0.19. Analysts predict 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 15. Shareholders of record on Friday, April 8 received a dividend of $0.68. The ex-dividend date was Thursday, April 7. Lufax’s dividend payout ratio (DPR) is currently 30.77%.

Lufax Company Profile (Get an assessment)

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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