Barometer Capital Management Inc. Acquires 527,700 Shares of Lufax Holding Ltd. Sponsored ADR $LU

Barometer Capital Management Inc. grew its holdings in Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 7,538.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 534,700 shares of the company’s stock after buying an additional 527,700 shares during the quarter. Barometer Capital Management Inc.’s holdings in Lufax were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Alpine Investment Management Ltd lifted its position in Lufax by 91.9% during the 4th quarter. Alpine Investment Management Ltd now owns 8,106,500 shares of the company’s stock worth $20,753,000 after buying an additional 3,881,500 shares in the last quarter. Norges Bank acquired a new stake in Lufax in the 4th quarter valued at about $8,067,000. Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 2,080,678 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Lufax in the second quarter worth about $2,276,000. Finally, Legal & General Group Plc lifted its position in shares of Lufax by 106.5% during the fourth quarter. Legal & General Group Plc now owns 1,560,906 shares of the company’s stock worth $3,996,000 after purchasing an additional 804,923 shares in the last quarter. 69.14% of the stock is owned by institutional investors.

Lufax Stock Up 2.6%

Shares of LU stock opened at $1.40 on Wednesday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -1.79 and a beta of 0.79. Lufax Holding Ltd. Sponsored ADR has a 12 month low of $1.20 and a 12 month high of $4.57. The stock has a 50-day moving average price of $1.47 and a 200 day moving average price of $2.04.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Lufax from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Monday, May 18th. JPMorgan Chase & Co. initiated coverage on Lufax in a report on Friday, April 17th. They set a “neutral” rating and a $2.00 price objective on the stock. Finally, Zacks Research upgraded Lufax to a “hold” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lufax has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax 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.