Allianz Asset Management GmbH Makes New Investment in UP Fintech Holding Limited (NASDAQ:TIGR)

Key Points

• Allianz Asset Management GmbH acquired nearly 50,000 shares of UP Fintech Holding Limited, valued at approximately $429,000, during the first quarter.
• Several institutional investors, including Marshall Wace LLP and Two Sigma Investments LP, significantly increased their stakes in UP Fintech, with some raising holdings by as much as 808.5%.
• Analysts have upgraded UP Fintech from a "neutral" to a "buy" rating, with a new price target set to $14.00, reflecting positive sentiment in the stock's performance.

Allianz Asset Management GmbH purchased a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 49,893 shares of the company's stock, valued at approximately $429,000.

Other large investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $30,000 after purchasing an additional 3,901 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of UP Fintech in the 4th quarter valued at approximately $38,000. Tairen Capital Ltd bought a new stake in shares of UP Fintech in the 4th quarter valued at $68,000. Bingham Private Wealth LLC purchased a new stake in shares of UP Fintech in the first quarter valued at about $90,000. Finally, GAMMA Investing LLC boosted its position in shares of UP Fintech by 17.4% in the first quarter. GAMMA Investing LLC now owns 10,728 shares of the company's stock valued at $92,000 after acquiring an additional 1,592 shares during the period. Hedge funds and other institutional investors own 9.03% of the company's stock.

UP Fintech Stock Down 2.0%

UP Fintech stock traded down $0.20 during mid-day trading on Wednesday, hitting $9.78. 1,475,752 shares of the company's stock were exchanged, compared to its average volume of 6,149,631. The stock has a market cap of $1.80 billion, a P/E ratio of 21.74, a P/E/G ratio of 0.88 and a beta of 0.60. The stock has a 50 day moving average of $9.34 and a two-hundred day moving average of $8.41. UP Fintech Holding Limited has a 1-year low of $3.39 and a 1-year high of $14.48. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.23.

UP Fintech (NASDAQ:TIGR - Get Free Report) last released its earnings results on Friday, May 30th. The company reported $0.20 earnings per share for the quarter. UP Fintech had a net margin of 18.11% and a return on equity of 13.19%. The business had revenue of $122.61 million during the quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup upgraded shares of UP Fintech from a "neutral" rating to a "buy" rating and upped their price target for the stock from $9.50 to $14.00 in a research note on Tuesday, July 22nd. Wall Street Zen raised UP Fintech from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $10.33.

About UP Fintech

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.