Jupiter Asset Management Ltd. Takes Position in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)

Jupiter Asset Management Ltd. purchased a new stake in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 48,000 shares of the company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors increased its stake in shares of OneConnect Financial Technology by 36.1% in the 1st quarter. Capital International Investors now owns 5,442,803 shares of the company’s stock valued at $80,445,000 after purchasing an additional 1,445,093 shares during the last quarter. Baillie Gifford & Co. grew its position in OneConnect Financial Technology by 219.0% during the 1st quarter. Baillie Gifford & Co. now owns 2,993,837 shares of the company’s stock worth $44,249,000 after acquiring an additional 2,055,386 shares during the last quarter. LA Financiere DE L Echiquier grew its position in OneConnect Financial Technology by 15.0% during the 1st quarter. LA Financiere DE L Echiquier now owns 1,458,826 shares of the company’s stock worth $21,562,000 after acquiring an additional 189,826 shares during the last quarter. Van ECK Associates Corp grew its position in OneConnect Financial Technology by 31.1% during the 1st quarter. Van ECK Associates Corp now owns 1,341,558 shares of the company’s stock worth $19,828,000 after acquiring an additional 318,398 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in OneConnect Financial Technology by 102.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 892,327 shares of the company’s stock worth $13,188,000 after acquiring an additional 451,086 shares during the last quarter. Institutional investors own 17.30% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered OneConnect Financial Technology from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $19.00 to $7.50 in a research report on Wednesday, August 4th. KeyCorp reduced their price objective on OneConnect Financial Technology from $24.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, August 5th. CLSA reduced their price target on OneConnect Financial Technology from $21.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 5th. Finally, Zacks Investment Research lowered OneConnect Financial Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.07.

NYSE OCFT opened at $4.31 on Wednesday. The firm has a market capitalization of $1.68 billion, a PE ratio of -8.29 and a beta of 0.33. The business’s 50-day moving average price is $6.51 and its two-hundred day moving average price is $11.80. OneConnect Financial Technology Co., Ltd. has a 12 month low of $4.00 and a 12 month high of $24.95.

OneConnect Financial Technology (NYSE:OCFT) last announced its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $149.83 million during the quarter, compared to analyst estimates of $165.95 million. OneConnect Financial Technology had a negative net margin of 35.89% and a negative return on equity of 26.05%. On average, analysts forecast that OneConnect Financial Technology Co., Ltd. will post -0.49 earnings per share for the current year.

About OneConnect Financial Technology

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail and SME banking risk-management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.

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Institutional Ownership by Quarter for OneConnect Financial Technology (NYSE:OCFT)

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