Handelsbanken Fonder AB Purchases 23,300 Shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position in OneConnect Financial Technology by 6.8% in the third quarter. BlackRock Inc. now owns 5,046,085 shares of the company’s stock valued at $20,691,000 after purchasing an additional 322,993 shares during the last quarter. Vanguard Group Inc. lifted its position in OneConnect Financial Technology by 145.1% in the second quarter. Vanguard Group Inc. now owns 3,981,782 shares of the company’s stock valued at $47,860,000 after purchasing an additional 2,357,029 shares during the last quarter. State Street Corp lifted its position in OneConnect Financial Technology by 428.3% in the second quarter. State Street Corp now owns 2,124,773 shares of the company’s stock valued at $25,540,000 after purchasing an additional 1,722,595 shares during the last quarter. Deutsche Bank AG lifted its position in OneConnect Financial Technology by 81.9% in the second quarter. Deutsche Bank AG now owns 1,859,950 shares of the company’s stock valued at $22,356,000 after purchasing an additional 837,468 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of OneConnect Financial Technology by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 994,050 shares of the company’s stock valued at $4,075,000 after buying an additional 95,906 shares during the period. Hedge funds and other institutional investors own 16.75% of the company’s stock.
Separately, Zacks Investment Research raised OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $13.63.
OCFT opened at $2.23 on Thursday. OneConnect Financial Technology Co., Ltd. has a 52-week low of $2.02 and a 52-week high of $23.77. The stock has a market capitalization of $869.69 million, a PE ratio of -4.21 and a beta of 0.30. The stock’s 50 day moving average price is $2.49 and its 200-day moving average price is $4.42.
OneConnect Financial Technology (NYSE:OCFT) last issued its quarterly earnings results on Thursday, November 18th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The company had revenue of $164.53 million for the quarter. OneConnect Financial Technology had a negative return on equity of 27.22% and a negative net margin of 32.79%. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, analysts forecast that OneConnect Financial Technology Co., Ltd. will post -0.48 earnings per share for the current fiscal year.
OneConnect Financial Technology Company Profile
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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