Munro Partners Makes New Investment in Futu Holdings Limited Sponsored ADR $FUTU

Munro Partners purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTUFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 39,150 shares of the company’s stock, valued at approximately $6,429,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Futu during the 1st quarter worth about $27,000. Hilton Head Capital Partners LLC bought a new stake in shares of Futu during the 4th quarter worth about $49,000. Parkside Financial Bank & Trust raised its position in shares of Futu by 30,000.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock worth $49,000 after buying an additional 300 shares in the last quarter. Quarry LP bought a new stake in shares of Futu in the 3rd quarter worth approximately $51,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Futu by 53.2% in the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock worth $54,000 after purchasing an additional 115 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price on the stock. in a report on Monday, May 25th. Barclays dropped their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 target price on shares of Futu in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Futu has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Read Our Latest Research Report on FUTU

Futu Price Performance

NASDAQ FUTU opened at $100.12 on Tuesday. The company’s 50 day simple moving average is $132.17 and its 200 day simple moving average is $149.38. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53. The company has a market capitalization of $14.03 billion, a P/E ratio of 11.01, a PEG ratio of 1.14 and a beta of 0.40.

Futu (NASDAQ:FUTUGet Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). The firm had revenue of $694.17 million during the quarter, compared to analysts’ expectations of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were given a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s dividend payout ratio (DPR) is 28.05%.

Futu Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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