Arrowstreet Capital Limited Partnership Sells 815,464 Shares of UP Fintech Holding Limited $TIGR

Key Points

• Arrowstreet Capital reduced its UP Fintech (TIGR) stake by 16.9%, selling 815,464 shares during the first quarter and retaining 4.02 million shares worth approximately $25.3 million.
• Several institutional investors increased their positions, including Jupiter Asset Management, Bank of America, and Marshall Wace; institutions collectively own 9.03% of TIGR, while insiders own 50.90%.
• TIGR opened at $4.79, near its 52-week low of $4.00 and well below its high of $13.55. Analysts maintain a “Moderate Buy” consensus with an average price target of $9.23, though ratings range from Buy to Sell.

Arrowstreet Capital Limited Partnership cut its holdings in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 16.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,016,172 shares of the company's stock after selling 815,464 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.12% of UP Fintech worth $25,302,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TIGR. Sparta 24 Ltd. lifted its stake in UP Fintech by 9.1% in the first quarter. Sparta 24 Ltd. now owns 5,808,267 shares of the company's stock valued at $36,592,000 after buying an additional 482,607 shares in the last quarter. Capital International Investors acquired a new position in UP Fintech in the 4th quarter worth $47,855,000. Jupiter Asset Management Ltd. increased its holdings in UP Fintech by 157.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company's stock worth $40,307,000 after purchasing an additional 2,577,459 shares in the last quarter. Bank of America Corp DE increased its holdings in UP Fintech by 122.6% during the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock worth $22,025,000 after purchasing an additional 1,257,251 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in UP Fintech by 128.5% during the 4th quarter. Marshall Wace LLP now owns 2,019,197 shares of the company's stock worth $19,304,000 after purchasing an additional 1,135,587 shares in the last quarter. 9.03% of the stock is owned by institutional investors.

UP Fintech Stock Down 0.2%

TIGR opened at $4.79 on Thursday. The stock's fifty day simple moving average is $4.74 and its 200 day simple moving average is $6.51. UP Fintech Holding Limited has a 1-year low of $4.00 and a 1-year high of $13.55. The stock has a market cap of $908.66 million, a PE ratio of 7.98 and a beta of 0.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

TIGR has been the subject of several recent research reports. Wall Street Zen cut UP Fintech from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Weiss Ratings reissued a "hold (c)" rating on shares of UP Fintech in a research report on Monday, April 20th. Bank of America restated a "buy" rating on shares of UP Fintech in a research note on Monday, June 1st. Finally, Citigroup reduced their price target on UP Fintech to $7.10 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.23.

Insider Buying and Selling at UP Fintech

In other news, Director Jian Liu sold 9,333 shares of the firm's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director owned 62,665 shares in the company, valued at approximately $288,259. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 50.90% of the stock is owned by insiders.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company's primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.

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