Myriad Asset Management Advisors LLC Makes New Investment in Futu Holdings Limited Sponsored ADR $FUTU

Myriad Asset Management Advisors LLC acquired a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTUFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,660 shares of the company’s stock, valued at approximately $1,422,000.

A number of other large investors have also modified their holdings of the company. Westerkirk Capital Inc. raised its position in shares of Futu by 300.0% in the fourth quarter. Westerkirk Capital Inc. now owns 2,000 shares of the company’s stock worth $328,000 after acquiring an additional 1,500 shares during the period. LPL Financial LLC raised its position in shares of Futu by 36.2% during the 4th quarter. LPL Financial LLC now owns 24,018 shares of the company’s stock worth $3,944,000 after purchasing an additional 6,382 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Futu in the 4th quarter valued at about $49,000. Capital International Investors boosted its holdings in Futu by 1.0% in the 4th quarter. Capital International Investors now owns 941,214 shares of the company’s stock worth $154,557,000 after buying an additional 9,119 shares during the last quarter. Finally, XML Financial LLC boosted its holdings in Futu by 23.4% in the 4th quarter. XML Financial LLC now owns 2,270 shares of the company’s stock worth $373,000 after buying an additional 430 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FUTU shares. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a report on Monday, May 25th. Barclays reduced their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

Read Our Latest Stock Analysis on Futu

Futu Trading Up 1.8%

FUTU stock opened at $92.93 on Thursday. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.07 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53. The firm has a 50-day moving average of $134.65 and a two-hundred day moving average of $150.85.

Futu (NASDAQ:FUTUGet Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The business had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. As a group, equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were issued a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio is presently 28.05%.

Futu News Summary

Here are the key news stories impacting Futu this week:

Futu Company 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.

See Also

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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