Stock Traders Buy Large Volume of Put Options on Lufax (NYSE:LU)


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Lufax Holding Ltd (NYSE:LU) saw unusually large options trading on Wednesday. Traders acquired 868 put options on the company. This represents an increase of approximately 795% compared to the average daily volume of 97 put options.

Several equities analysts have recently issued reports on LU shares. Citigroup assumed coverage on shares of Lufax in a report on Monday, March 8th. They set a “buy” rating and a $22.04 price objective on the stock. Zacks Investment Research cut shares of Lufax from a “buy” rating to a “hold” rating in a report on Wednesday. Rowe assumed coverage on Lufax in a research report on Monday, March 8th. They set a “buy” rating and a $22.04 target price on the stock. China Renaissance Securities assumed coverage on Lufax in a report on Friday, December 11th. They set a “buy” rating and a $17.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on Lufax in a report on Thursday, April 1st. They set an “underperform” rating and a $10.50 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.73.

Institutional investors and hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Lufax in the fourth quarter worth about $53,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Lufax during the fourth quarter worth $160,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Lufax in the fourth quarter worth about $258,000. Yorktown Management & Research Co Inc purchased a new position in shares of Lufax during the fourth quarter valued at $305,000. Finally, ExodusPoint Capital Management LP acquired a new position in Lufax during the fourth quarter valued at $325,000.

Shares of LU stock opened at $14.43 on Thursday. The business’s 50-day moving average is $15.06. Lufax has a 1-year low of $11.56 and a 1-year high of $20.17.

Lufax (NYSE:LU) last announced its earnings results on Tuesday, February 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.89 billion. As a group, research analysts anticipate that Lufax will post 0.79 earnings per share for the current year.

About Lufax

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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