Lufax Target of Unusually Large Options Trading (NYSE:LU)

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) was the target of some unusual options trading activity on Friday. Traders purchased 3,306 call options on the stock. This is an increase of 491% compared to the average volume of 559 call options.

Lufax Trading Up 2.0%

LU stock traded up $0.05 during midday trading on Friday, reaching $2.28. The stock had a trading volume of 1,016,329 shares, compared to its average volume of 1,387,428. Lufax has a 52-week low of $2.22 and a 52-week high of $4.57. The company’s fifty day simple moving average is $2.67 and its 200 day simple moving average is $2.89. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -2.92 and a beta of 0.64.

Lufax (NYSE:LU) last released its earnings results on Tuesday, February 17th. The company reported ($1.19) earnings per share (EPS) for the quarter. The firm had revenue of $724.89 million for the quarter. Sell-side analysts predict that Lufax will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Lufax from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LU. Alpine Investment Management Ltd purchased a new position in Lufax during the third quarter worth approximately $17,154,000. Norges Bank purchased a new position in shares of Lufax during the 4th quarter worth $8,067,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Lufax by 2,378.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock valued at $6,049,000 after acquiring an additional 2,080,678 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Lufax by 58.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company’s stock valued at $9,239,000 after purchasing an additional 1,221,383 shares during the period. Finally, Yunqi Capital Ltd increased its position in Lufax by 8.4% during the third quarter. Yunqi Capital Ltd now owns 10,950,138 shares of the company’s stock worth $44,458,000 after purchasing an additional 852,098 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.