Lufax Holding Ltd. Sponsored ADR $LU is Alpine Investment Management Ltd’s 5th Largest Position

Alpine Investment Management Ltd increased its position in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 91.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,106,500 shares of the company’s stock after acquiring an additional 3,881,500 shares during the quarter. Lufax comprises 5.4% of Alpine Investment Management Ltd’s investment portfolio, making the stock its 5th largest holding. Alpine Investment Management Ltd owned approximately 0.94% of Lufax worth $20,753,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Scientech Research LLC purchased a new stake in Lufax in the 3rd quarter worth about $46,000. Hudson Bay Capital Management LP purchased a new position in Lufax during the 2nd quarter valued at about $58,000. Headlands Technologies LLC grew its holdings in Lufax by 245.1% during the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after buying an additional 19,126 shares in the last quarter. Profund Advisors LLC grew its holdings in Lufax by 26.1% during the 3rd quarter. Profund Advisors LLC now owns 31,714 shares of the company’s stock valued at $129,000 after buying an additional 6,565 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Lufax during the 3rd quarter valued at about $167,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Analyst Upgrades and Downgrades

LU has been the subject of a number of recent analyst reports. Wall Street Zen raised Lufax from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised Lufax to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. initiated coverage on Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lufax in a report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $2.00.

Lufax Trading Down 0.4%

Shares of LU opened at $1.34 on Friday. The company has a market cap of $1.16 billion, a PE ratio of -1.71 and a beta of 0.76. The stock has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.28. Lufax Holding Ltd. Sponsored ADR has a 12-month low of $1.29 and a 12-month high of $4.57.

Lufax (NYSE:LU) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.19). The firm had revenue of $724.89 million during the quarter, compared to analysts’ expectations of $761.36 million. As a group, analysts predict that Lufax Holding Ltd. Sponsored ADR will post -0.02 earnings per share for the current year.

About Lufax

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.