36,520 Shares of Futu Holdings Limited Sponsored ADR $FUTU Bought by Franchise GP Ltd

Key Points

• Franchise GP Ltd. bought 36,520 Futu shares worth approximately $4.04 million during the third quarter, making Futu 1.7% of its portfolio and its 18th-largest holding.
• Several institutional investors also increased or initiated positions in Futu, including Assenagon Asset Management, Healthcare of Ontario Pension Plan Trust Fund, Greenwoods Asset Management and MY.Alpha Management.
• Futu exceeded quarterly expectations with $3.33 in EPS and $852.66 million in revenue. Despite strong profitability, analysts maintain a consensus “Hold” rating, with a price target of $139.91.

Franchise GP Ltd purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 36,520 shares of the company's stock, valued at approximately $4,037,000. Futu makes up 1.7% of Franchise GP Ltd's investment portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Futu in the 2nd quarter valued at approximately $61,574,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Futu by 576.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 287,000 shares of the company's stock valued at $39,250,000 after acquiring an additional 244,600 shares in the last quarter. Perseverance Asset Management International bought a new position in Futu during the first quarter valued at approximately $20,514,000. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in Futu by 9.8% in the second quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,093,634 shares of the company's stock valued at $102,517,000 after acquiring an additional 97,286 shares during the last quarter. Finally, MY.Alpha Management HK Advisors Ltd lifted its stake in Futu by 47.9% in the fourth quarter. MY.Alpha Management HK Advisors Ltd now owns 249,369 shares of the company's stock valued at $40,949,000 after acquiring an additional 80,799 shares during the last quarter.

Futu Stock Performance

FUTU opened at $109.80 on Friday. The business has a 50 day moving average price of $113.25 and a 200 day moving average price of $116.89. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm has a market cap of $15.39 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.45.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.98 by $0.35. Futu had a return on equity of 28.20% and a net margin of 42.95%. The company had revenue of $852.66 million for the quarter, compared to the consensus estimate of $786.07 million. As a group, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FUTU. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of Futu from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, Weiss Ratings downgraded shares of Futu from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Futu currently has a consensus rating of "Hold" and a consensus price target of $139.91.

Futu Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools designed to help individual investors access securities markets, manage portfolios and obtain investment information.

Its principal platforms include Futubull and Moomoo, which offer services such as stock and exchange-traded fund trading, margin financing, market data, research, news, portfolio management and investor education.

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