Krane Funds Advisors LLC recently announced the acquisition of new stake in Lufax Holding Ltd ADR (NYSE:LU). The institutional investor has increased its shareholding in the Financial company by 14.05% to 31.02 million shares with purchase of 3.82 million shares. This fresh investment now brings its stake to 1.35% valued currently at $29.62 million. In addition, BAMCO, Inc. raised its holdings by 3.33 million to 18.42 million shares. And Yunqi Capital Ltd. has lifted its position by 3.11% or 0.46 million shares – to 15.36 million shares.
With over 31.52 million Lufax Holding Ltd ADR (LU) shares trading Friday and a closing price of $0.87 on the day, the dollar volume was approximately $27.42 million. The shares have shown a negative half year performance of -45.10% and its price on 12/08/23 gained nearly 0.41%. Currently, there are 2.29B common shares owned by the public and among those 2.29B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for LU have a consensus price objective of $8.25. The analysts have set the share’s price value over the next 12 months at a high of $11.08 and a low of $3.50. The average price target is 25.0% above its recent price level and an upside to the estimated low will see the stock gain 75.14% over that period. But an upside of 92.15% will see the stock hit the forecast high price target while median target price for the stock is $8.02.
The top 3 mutual fund holders in Lufax Holding Ltd ADR are KraneShares CSI China Internet ET, Government Pension Fund – Global, and Baron Emerging Markets Fund. KraneShares CSI China Internet ET owns 28.54 million shares of the company’s stock, all valued at over $27.26 million. Government Pension Fund – Global bought 12.42 million shares to see its total holdings expand to 15.17 million shares valued at over $14.48 million and representing 0.66% of the shares outstanding. Baron Emerging Markets Fund sold -0.22 million shares to bring its total holdings to over 13.89 million shares at a value of $13.26 million. Baron Emerging Markets Fund now owns shares totaling to 0.61% of the shares outstanding.
Shares of Lufax Holding Ltd ADR (NYSE: LU) opened at $0.8442, down -$0.02 from a prior closing price of $0.86. However, the script later moved the day high at 0.9100, up 0.41%. The company’s stock has a 5-day price change of -5.09% and -28.31% over the past three months. LU shares are trading -55.29% year to date (YTD), with the 12-month market performance down to -55.06% lower. It has a 12-month low price of $0.80 and touched a high of $3.32 over the same period. LU has an average intraday trading volume of 22.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.76%, -11.15%, and -40.56% respectively.
Institutional ownership of Lufax Holding Ltd ADR (NYSE: LU) shares accounts for 17.76% of the company’s 2.29B shares outstanding. Mutual fund holders own 8.66%, while other institutional holders and individual stakeholders account for 9.24% and — respectively.
It has a market capitalization of $1.99B and a beta (3y monthly) value of 0.73. The stock’s trailing 12-month PE ratio is 14.85, while the earnings-per-share (ttm) stands at $0.06. The company has a debt-to-equity ratio at 0.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.55% over the week and 8.59% over the month.
Analysts forecast that Lufax Holding Ltd ADR (LU) will achieve an EPS of $0 for the current quarter, $0.02 for the next quarter and $0.21 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -76.95%, and 81.92% over the next financial year. EPS should shrink at an annualized rate of -8.55% over the next five years, compared to 9.51% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Lufax Holding Ltd ADR (LU) as a “Moderate Buy” at a consensus score of 2.93. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 15 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the LU, a number of firms have released research notes about the stock. UBS stated their Sell rating for the stock in a research note on August 24, 2023, with the firm’s price target at $1.60-$1.
