Lufax (NYSE:LU) Releases Earnings Results, Misses Estimates By $0.19 EPS

Lufax (NYSE:LU) issued its quarterly earnings data on Monday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.19), Zacks reports. The company had revenue of $724.89 million for the quarter, compared to the consensus estimate of $761.36 million.

Lufax Stock Up 0.6%

Shares of LU stock opened at $2.40 on Wednesday. The business has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $2.90. Lufax has a 12-month low of $2.30 and a 12-month high of $4.57. The firm has a market cap of $2.08 billion, a P/E ratio of -3.07 and a beta of 0.64.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Lufax from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Lufax has an average rating of “Sell”.

Hedge Funds Weigh In On Lufax

A number of large investors have recently modified their holdings of LU. Vanguard Personalized Indexing Management LLC bought a new stake in Lufax in the 2nd quarter worth approximately $28,000. May Hill Capital LLC bought a new position in Lufax during the second quarter valued at approximately $34,000. Scientech Research LLC purchased a new position in shares of Lufax during the third quarter worth approximately $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax in the 2nd quarter worth approximately $58,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock worth $75,000 after acquiring an additional 19,126 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Company Profile

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.