OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Shares Sold by Rafferty Asset Management LLC – Mayfield Recorder

Frank Smitson 2022-01-23 10:01

Rafferty Asset Management LLC decreased its holdings in shares of OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 269,742 shares of the company’s stock after selling 28,472 shares during the quarter. Rafferty Asset Management LLC’s holdings in OneConnect Financial Technology were worth $1,106,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in OneConnect Financial Technology in the second quarter valued at $39,000. Shell Asset Management Co. acquired a new position in OneConnect Financial Technology in the second quarter valued at $85,000. Advisory Services Network LLC acquired a new position in OneConnect Financial Technology in the second quarter valued at $89,000. Macquarie Group Ltd. acquired a new position in OneConnect Financial Technology in the second quarter valued at $91,000. Finally, Ensign Peak Advisors Inc purchased a new position in OneConnect Financial Technology in the second quarter valued at about $109,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

Shares of NYSE OCFT opened at $2.15 on Friday. OneConnect Financial Technology Co., Ltd. has a 1 year low of $2.02 and a 1 year high of $23.77. The firm has a market cap of $838.49 million, a price-to-earnings ratio of -4.06 and a beta of 0.30. The stock’s 50-day simple moving average is $2.47 and its 200-day simple moving average is $4.34.

OneConnect Financial Technology (NYSE:OCFT) last announced its quarterly earnings data on Thursday, November 18th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The firm had revenue of $164.53 million during 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 prior year, the firm earned ($0.10) earnings per share. On average, research analysts expect that OneConnect Financial Technology Co., Ltd. will post -0.48 EPS for the current fiscal year.

Separately, Zacks Investment Research raised OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, October 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, OneConnect Financial Technology has an average rating of “Buy” and an average price target of $13.63.

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

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