Soltis Investment Advisors LLC Makes New $52,000 Investment in Lufax Holding Ltd (NYSE:LU)

Soltis Investment Advisors LLC acquired a new stake in Lufax Holding Ltd (NYSE:LU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,900 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds have also recently modified their holdings of the company. Caxton Associates LP purchased a new position in Lufax during the second quarter valued at approximately $2,152,000. Maven Securities LTD lifted its stake in shares of Lufax by 350.0% in the 2nd quarter. Maven Securities LTD now owns 180,000 shares of the company’s stock valued at $427,000 after purchasing an additional 140,000 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Lufax by 15.9% in the 2nd quarter. Baillie Gifford & Co. now owns 14,011,971 shares of the company’s stock valued at $33,208,000 after purchasing an additional 1,922,185 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Lufax by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock worth $10,829,000 after buying an additional 936,048 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Lufax during the second quarter valued at $1,114,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Lufax Price Performance

Shares of NYSE LU opened at $2.65 on Friday. The firm has a fifty day moving average of $2.76 and a 200 day moving average of $2.72. Lufax Holding Ltd has a one year low of $2.00 and a one year high of $4.94.

Lufax (NYSE:LU) last announced its earnings results on Monday, October 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Lufax had a negative net margin of 12.75% and a negative return on equity of 3.63%. The company had revenue of $789.93 million during the quarter. During the same quarter last year, the business posted $0.04 EPS. As a group, equities research analysts forecast that Lufax Holding Ltd will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LU has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.20 price target on shares of Lufax in a report on Thursday, October 24th.

About Lufax

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.