Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Get Free Report) saw an uptick in trading volume on Thursday . 2,148,571 shares changed hands during trading, an increase of 35% from the previous session’s volume of 1,595,649 shares.The stock last traded at $138.3380 and had previously closed at $142.74.
Analyst Ratings Changes
Several brokerages have recently issued reports on FUTU. Barclays decreased their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Zacks Research lowered shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $205.00 price objective on shares of Futu in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.17.
Read Our Latest Stock Analysis on FUTU
Futu Trading Down 4.9%
Futu (NASDAQ:FUTU – Get Free Report) last posted its quarterly earnings results on Sunday, February 15th. The company reported $3.07 earnings per share for the quarter. The business had revenue of $771.00 million during the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 11.78 EPS for the current year.
Futu Dividend Announcement
The firm also recently declared a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is currently 24.81%.
Institutional Trading of Futu
Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in Futu in the first quarter worth $25,000. Rockefeller Capital Management L.P. lifted its stake in Futu by 59.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Futu by 6,075.0% in the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after purchasing an additional 243 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Futu during the first quarter valued at about $27,000. Finally, Quarry LP bought a new position in shares of Futu during the third quarter valued at about $51,000.
About Futu
Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.
The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.
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