Townsquare Capital LLC Invests $584,000 in UP Fintech Holding Limited (NASDAQ:TIGR)

Townsquare Capital LLC bought a new stake in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 90,373 shares of the company's stock, valued at approximately $584,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Contrarius Group Holdings Ltd bought a new position in UP Fintech during the 4th quarter worth $8,105,000. State Street Corp grew its position in shares of UP Fintech by 4.8% during the third quarter. State Street Corp now owns 742,452 shares of the company's stock worth $3,965,000 after acquiring an additional 34,186 shares during the last quarter. Dorsey Wright & Associates acquired a new stake in shares of UP Fintech in the 4th quarter worth about $2,579,000. Envestnet Asset Management Inc. bought a new stake in UP Fintech in the 4th quarter valued at about $1,219,000. Finally, Geode Capital Management LLC boosted its stake in UP Fintech by 49.9% during the 4th quarter. Geode Capital Management LLC now owns 122,644 shares of the company's stock valued at $792,000 after purchasing an additional 40,802 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TIGR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on UP Fintech in a report on Thursday, January 2nd. They set a "buy" rating and a $9.40 price target on the stock. Citigroup raised UP Fintech from a "sell" rating to a "neutral" rating and increased their price target for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th. Finally, Bank of America initiated coverage on shares of UP Fintech in a research note on Monday, March 17th. They set a "buy" rating on the stock.

UP Fintech Price Performance

NASDAQ:TIGR traded up $0.03 during midday trading on Friday, hitting $7.62. 2,739,266 shares of the stock were exchanged, compared to its average volume of 7,041,019. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 38.13 and a beta of 0.65. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. UP Fintech Holding Limited has a one year low of $3.36 and a one year high of $14.48. The business has a 50-day moving average price of $7.67 and a two-hundred day moving average price of $7.08.

UP Fintech (NASDAQ:TIGR - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $124.10 million during the quarter, compared to analyst estimates of $73.60 million. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%.

UP Fintech Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.