Soltis Investment Advisors LLC Makes New Investment in Lufax Holding Ltd (NYSE:LU)

Soltis Investment Advisors LLC purchased a new stake in Lufax Holding Ltd (NYSE:LU) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 14,900 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in Lufax by 14.7% during the third quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock worth $256,000 after buying an additional 9,400 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Lufax in the 2nd quarter worth approximately $26,000. EWA LLC purchased a new position in shares of Lufax during the 3rd quarter worth approximately $45,000. SG Americas Securities LLC purchased a new position in shares of Lufax during the 3rd quarter worth approximately $66,000. Finally, SIH Partners LLLP acquired a new stake in Lufax in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Stock Performance

Shares of LU stock opened at $2.65 on Friday. Lufax Holding Ltd has a fifty-two week low of $2.00 and a fifty-two week high of $4.94. The company has a 50 day moving average price of $2.76 and a 200 day moving average price of $2.72.

Lufax (NYSE:LU) last posted its quarterly 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). The business had revenue of $789.93 million during the quarter. Lufax had a negative return on equity of 3.63% and a negative net margin of 12.75%. During the same period last year, the business posted $0.04 EPS. On average, equities analysts predict that Lufax Holding Ltd will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LU shares. Jefferies Financial Group restated a “hold” rating and set a $3.20 price target on shares of Lufax in a research note on Thursday, October 24th. Bank of America decreased their target price on Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, August 23rd.

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.