Lufax (NYSE:LU) Trading Up 4% – Should You Buy?

Shares of Lufax Holding Ltd (NYSE:LU) were up 4% during mid-day trading on Thursday . The stock traded as high as $3.28 and last traded at $3.24. Approximately 481,386 shares were traded during trading, a decline of 86% from the average daily volume of 3,374,324 shares. The stock had previously closed at $3.11.

Lufax Stock Down 2.3 %

The firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $2.64. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -4.11 and a beta of 0.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LU. Baillie Gifford & Co. boosted its position in shares of Lufax by 4.3% in the third quarter. Baillie Gifford & Co. now owns 14,617,105 shares of the company’s stock worth $51,014,000 after buying an additional 605,134 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lufax by 27.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after acquiring an additional 13,630 shares during the period. Charles Schwab Investment Management Inc. grew its position in Lufax by 43.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after acquiring an additional 936,048 shares in the last quarter. State Street Corp raised its stake in shares of Lufax by 3.2% during the third quarter. State Street Corp now owns 4,960,609 shares of the company’s stock valued at $17,313,000 after purchasing an additional 155,006 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Lufax during the third quarter worth $1,479,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

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.