Barometer Capital Management Inc. Has $1 Million Stock Holdings in Lufax Holding Ltd. Sponsored ADR $LU

Barometer Capital Management Inc. increased its holdings in shares of Lufax Holding Ltd. Sponsored ADR (NYSE:LU) by 7,538.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 534,700 shares of the company’s stock after acquiring an additional 527,700 shares during the period. Barometer Capital Management Inc. owned about 0.06% of Lufax worth $1,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LU. Fulton Bank N.A. acquired a new position in Lufax in the first quarter worth about $27,000. Scientech Research LLC acquired a new stake in Lufax during the third quarter valued at approximately $46,000. Hudson Bay Capital Management LP bought a new stake in shares of Lufax in the 2nd quarter valued at approximately $58,000. Headlands Technologies LLC grew its stake in shares of Lufax by 245.1% in the 2nd quarter. Headlands Technologies LLC now owns 26,928 shares of the company’s stock valued at $75,000 after purchasing an additional 19,126 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Lufax in the 4th quarter valued at approximately $96,000. Institutional investors own 69.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LU shares. Weiss Ratings restated a “sell (d)” rating on shares of Lufax in a research report on Monday, May 18th. Wall Street Zen upgraded Lufax from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded Lufax to a “hold” rating in a research note on Tuesday, April 21st. Finally, 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 for the company. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $2.00.

Lufax Trading Up 2.6%

NYSE LU 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. The company has a 50 day moving average of $1.47 and a 200-day moving average of $2.04. Lufax Holding Ltd. Sponsored ADR has a 1-year low of $1.20 and a 1-year high of $4.57.

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.