FNY Investment Advisers LLC Takes Position in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)
Other large investors also recently modified their holdings of the company. Bridgewater Associates LP lifted its position in shares of OneConnect Financial Technology by 23.1% in the fourth quarter. Bridgewater Associates LP now owns 998,213 shares of the company’s stock valued at $2,466,000 after acquiring an additional 187,103 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in OneConnect Financial Technology by 573.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 36,547 shares of the company’s stock valued at $90,000 after purchasing an additional 31,118 shares during the last quarter. National Bank of Canada FI acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $1,363,000. GSA Capital Partners LLP acquired a new position in OneConnect Financial Technology in the fourth quarter valued at $90,000. Finally, Itau Unibanco Holding S.A. increased its stake in OneConnect Financial Technology by 303.7% in the fourth quarter. Itau Unibanco Holding S.A. now owns 19,889 shares of the company’s stock valued at $50,000 after purchasing an additional 14,962 shares during the last quarter. Institutional investors and hedge funds own 14.91% of the company’s stock.
Shares of NYSE:OCFT opened at $2.08 on Friday. The firm has a market capitalization of $811.19 million, a PE ratio of -3.85 and a beta of 0.09. The business has a 50-day moving average of $1.50 and a two-hundred day moving average of $1.66. OneConnect Financial Technology Co., Ltd. has a 12 month low of $0.99 and a 12 month high of $10.85.
OneConnect Financial Technology (NYSE:OCFT – Get Rating) last announced its quarterly earnings results on Wednesday, May 25th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $160.51 million during the quarter, compared to analyst estimates of $138.62 million. OneConnect Financial Technology had a negative return on equity of 31.20% and a negative net margin of 29.89%. During the same period in the prior year, the firm posted ($0.13) earnings per share. As a group, research analysts predict that OneConnect Financial Technology Co., Ltd. will post -0.41 EPS for the current year.
Separately, JPMorgan Chase & Co. lowered OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.50.
About OneConnect Financial Technology (Get Rating)
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, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.
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