SG Americas Securities LLC Has $1.98 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

SG Americas Securities LLC lessened its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 95.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,042 shares of the company’s stock after selling 341,953 shares during the quarter. SG Americas Securities LLC’s holdings in Futu were worth $1,983,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FUTU. LFA Lugano Financial Advisors SA acquired a new position in shares of Futu in the 2nd quarter worth approximately $28,000. Atlas Capital Advisors Inc. acquired a new position in Futu in the first quarter valued at $26,000. Hantz Financial Services Inc. lifted its holdings in Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 247 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Futu during the 1st quarter worth about $27,000. Finally, First Horizon Advisors Inc. acquired a new stake in Futu during the 2nd quarter worth about $35,000.

Futu Stock Performance

Shares of Futu stock opened at $165.90 on Thursday. Futu Holdings Limited Sponsored ADR has a 52 week low of $70.60 and a 52 week high of $202.53. The stock has a 50 day moving average price of $175.47 and a two-hundred day moving average price of $152.50. The stock has a market capitalization of $23.08 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The company had revenue of $822.80 million for the quarter, compared to analysts’ expectations of $631.51 million. Futu had a return on equity of 32.19% and a net margin of 47.11%. Research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FUTU shares. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Daiwa America raised shares of Futu to a “strong-buy” rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $203.00.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.