Lufax Holding Ltd (NYSE:LU) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC cut its position in Lufax Holding Ltd (NYSE:LU) by 90.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the company’s stock after selling 134,999 shares during the period. Farallon Capital Management LLC’s holdings in Lufax were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in shares of Lufax in the second quarter valued at about $26,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Lufax in the first quarter worth about $60,000. PDS Planning Inc purchased a new stake in shares of Lufax in the first quarter worth about $78,000. Diversified Trust Co purchased a new stake in shares of Lufax in the first quarter worth about $92,000. Finally, DGS Capital Management LLC purchased a new stake in shares of Lufax in the first quarter worth about $111,000. 69.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Bank of America lowered their price target on Lufax from $5.22 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, August 23rd.

Lufax Price Performance

NYSE:LU opened at $2.30 on Tuesday. Lufax Holding Ltd has a one year low of $2.00 and a one year high of $4.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $1.32 billion, a PE ratio of -16.43 and a beta of 0.82. The stock has a 50 day moving average price of $2.55 and a 200 day moving average price of $3.26.

Lufax (NYSE:LU) last posted its earnings results on Wednesday, August 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.26). Lufax had a negative return on equity of 2.66% and a negative net margin of 8.70%. The business had revenue of $822.36 million for the quarter. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts expect that Lufax Holding Ltd will post -0.09 EPS for the current fiscal year.

Lufax Company 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.