MY.Alpha Management HK Advisors Ltd grew its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report) by 47.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 249,369 shares of the company’s stock after buying an additional 80,799 shares during the quarter. Futu accounts for 22.0% of MY.Alpha Management HK Advisors Ltd’s holdings, making the stock its biggest position. MY.Alpha Management HK Advisors Ltd’s holdings in Futu were worth $40,949,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Futu by 805.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after acquiring an additional 1,002,171 shares in the last quarter. Aspex Management HK Ltd lifted its holdings in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after acquiring an additional 919,724 shares during the period. Tredje AP fonden boosted its position in Futu by 3,579.1% in the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after purchasing an additional 669,300 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Futu by 25,558,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after purchasing an additional 511,162 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new position in Futu in the third quarter worth $64,250,000.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Barclays cut their price target 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Zacks Research downgraded shares of Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.
Futu Stock Performance
Shares of FUTU opened at $96.64 on Friday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $80.50 and a fifty-two week high of $202.53. The business has a 50-day moving average of $128.30 and a 200 day moving average of $147.48. The firm has a market cap of $13.55 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40.
Futu (NASDAQ:FUTU – Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $2.89 by ($2.12). The business had revenue of $694.17 million for the quarter, compared to analysts’ expectations of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. As a group, research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.
Futu Announces Dividend
The firm also recently declared 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 payout ratio is 28.05%.
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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