Lufax Holding Ltd. Sponsored ADR $LU Shares Sold by Hel Ved Capital Management Ltd

Key Points

• Hel Ved Capital Management Ltd cut its stake in Lufax by 83.4%, selling 929,661 shares in the quarter and retaining 185,339 shares valued at about $752,000 per its latest 13F filing.
• Other institutions moved in the opposite direction—Yunqi added 3,000,000 shares to reach 10,098,040, Arrowstreet vastly increased its holding, and Norges Bank and CPP Investments opened new stakes—leaving institutional ownership at 69.14%.
• Analyst sentiment is negative: Wall Street Zen downgraded Lufax to a “sell”, the consensus rating is “Sell,” and the company reported negative EPS with a market cap around $2.10 billion.

Hel Ved Capital Management Ltd cut its holdings in Lufax Holding Ltd. Sponsored ADR (NYSE:LU - Free Report) by 83.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,339 shares of the company's stock after selling 929,661 shares during the quarter. Hel Ved Capital Management Ltd's holdings in Lufax were worth $752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Yunqi Capital Ltd increased its position in Lufax by 42.3% during the 2nd quarter. Yunqi Capital Ltd now owns 10,098,040 shares of the company's stock worth $28,174,000 after purchasing an additional 3,000,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Lufax by 2,378.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company's stock worth $6,049,000 after buying an additional 2,080,678 shares during the period. Norges Bank acquired a new stake in Lufax during the 2nd quarter valued at $4,927,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Lufax by 58.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company's stock valued at $9,239,000 after purchasing an additional 1,221,383 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Lufax in the 2nd quarter worth about $2,276,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Lufax from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Lufax Stock Performance

NYSE:LU opened at $2.42 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of -3.10 and a beta of 0.64. The stock's 50 day moving average price is $2.69 and its 200 day moving average price is $2.91. Lufax Holding Ltd. Sponsored ADR has a 52 week low of $2.30 and a 52 week high of $4.57.

Lufax (NYSE:LU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($1.19) EPS for the quarter. The firm had revenue of $724.89 million during the quarter. As a group, sell-side analysts forecast that Lufax Holding Ltd. Sponsored ADR will post -0.41 earnings per share for the current fiscal 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.

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