Polymer Capital Management HK LTD Takes Position in Lufax Holding Ltd (NYSE:LU)

Polymer Capital Management HK LTD bought a new stake in shares of Lufax Holding Ltd (NYSE:LU) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $349,000.

Several other large investors have also recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its position in shares of Lufax by 14.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock valued at $256,000 after purchasing an additional 9,400 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Lufax during the 2nd quarter worth $26,000. SG Americas Securities LLC bought a new position in shares of Lufax during the 3rd quarter worth $66,000. SIH Partners LLLP bought a new position in shares of Lufax during the 2nd quarter worth $65,000. Finally, Simplicity Wealth LLC bought a new position in shares of Lufax during the 2nd quarter worth $79,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on LU. Bank of America cut their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th.

Lufax Stock Up 1.6 %

Shares of NYSE LU opened at $2.49 on Thursday. Lufax Holding Ltd has a 52 week low of $2.00 and a 52 week high of $4.94. The business has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $2.78. The company has a market cap of $2.16 billion, a P/E ratio of -3.23 and a beta of 0.85.

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

Lufax Profile

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.