Lufax (NYSE:LU) Trading 4% Higher – Time to Buy?

Lufax Holding Ltd (NYSE:LU)’s stock price was up 4% on Thursday . The stock traded as high as $3.28 and last traded at $3.24. Approximately 481,386 shares changed hands 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 Up 3.4 %

The stock’s 50 day moving average price is $2.61 and its 200-day moving average price is $2.64. The stock has a market capitalization of $2.79 billion, a PE ratio of -4.18 and a beta of 0.77.

Hedge Funds Weigh In On Lufax

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Lufax by 16.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 491,713 shares of the company’s stock worth $1,175,000 after purchasing an additional 67,900 shares in the last quarter. Tiger Pacific Capital LP bought a new stake in shares of Lufax in the 4th quarter valued at about $9,409,000. Nuveen Asset Management LLC increased its holdings in shares of Lufax by 747.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company’s stock valued at $3,091,000 after acquiring an additional 1,140,634 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Lufax in the 4th quarter valued at about $142,000. Finally, Millennium Management LLC grew its holdings in Lufax by 56.2% in the fourth quarter. Millennium Management LLC now owns 580,890 shares of the company’s stock worth $1,388,000 after purchasing an additional 209,117 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors.

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.