Krane Funds Advisors LLC Sells 8,745,667 Shares of Lufax Holding Ltd (NYSE:LU)

Krane Funds Advisors LLC trimmed its holdings in shares of Lufax Holding Ltd (NYSE:LU - Free Report) by 99.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,976 shares of the company's stock after selling 8,745,667 shares during the period. Krane Funds Advisors LLC's holdings in Lufax were worth $101,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in Lufax by 98.9% during the 1st quarter. Baillie Gifford & Co. now owns 12,089,786 shares of the company's stock valued at $51,019,000 after buying an additional 6,012,562 shares during the period. Acadian Asset Management LLC increased its holdings in Lufax by 5,000.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,036,225 shares of the company's stock valued at $12,798,000 after purchasing an additional 2,976,693 shares during the period. Yunqi Capital Ltd raised its position in Lufax by 39.4% during the 1st quarter. Yunqi Capital Ltd now owns 7,092,640 shares of the company's stock valued at $29,931,000 after purchasing an additional 2,002,873 shares during the last quarter. Caxton Associates LP purchased a new stake in Lufax in the 2nd quarter worth approximately $2,152,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Lufax in the 1st quarter worth approximately $2,649,000. Hedge funds and other institutional investors own 69.14% of the company's stock.

Lufax Trading Up 5.0 %

LU stock traded up $0.15 during trading on Friday, reaching $3.16. The company had a trading volume of 2,986,077 shares, compared to its average volume of 4,198,916. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.63 and a quick ratio of 1.63. Lufax Holding Ltd has a 52 week low of $2.00 and a 52 week high of $4.94. The business has a 50 day moving average of $2.76 and a 200 day moving average of $3.23. The company has a market cap of $1.81 billion, a P/E ratio of -22.57 and a beta of 0.85.

Lufax (NYSE:LU - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($0.19) earnings per share 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 firm had revenue of $822.36 million during the quarter. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, sell-side analysts forecast that Lufax Holding Ltd will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America dropped their price target on Lufax from $5.22 to $2.75 and set a "neutral" rating for the company in a research note on Friday, August 23rd.

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.