Brooklands Fund Management Ltd Makes New Investment in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Brooklands Fund Management initiated a position of 228,700 Futu shares valued at approximately $25.3 million, representing 3.7% of its portfolio and about 0.16% of Futu’s outstanding shares.
• Analyst sentiment remains cautious: Futu has an average rating of “Hold” from six analysts, with a consensus price target of $139.91.
• Futu reported stronger-than-expected quarterly results, including $3.33 in EPS versus a $2.98 estimate and $852.66 million in revenue versus expectations of $786.07 million. The stock opened at $101.47, well below its 52-week high of $202.53.

Brooklands Fund Management Ltd bought a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 228,700 shares of the company's stock, valued at approximately $25,283,000. Futu comprises about 3.7% of Brooklands Fund Management Ltd's investment portfolio, making the stock its 12th largest holding. Brooklands Fund Management Ltd owned approximately 0.16% of Futu at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of Futu in the first quarter worth $25,000. Reyes Financial Architecture Inc. acquired a new stake in shares of Futu during the third quarter worth $32,000. Rockefeller Capital Management L.P. grew its holdings in shares of Futu by 59.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Futu by 58.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company's stock valued at $165,000 after buying an additional 443 shares during the last quarter. Finally, SkyOak Wealth LLC purchased a new stake in shares of Futu during the second quarter valued at $207,000.

Analysts Set New Price Targets

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

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

Futu Stock Down 0.4%

NASDAQ FUTU opened at $101.47 on Friday. The business's fifty day simple moving average is $112.04 and its 200-day simple moving average is $126.11. The firm has a market cap of $14.22 billion, a PE ratio of 10.05, a P/E/G ratio of 1.01 and a beta of 0.45. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53.

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

Futu Company Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth management platforms. Through its Futubull and moomoo applications, the company provides investors with access to securities trading, market data, news, analysis tools, and other digital investing services.

Futu's platforms support trading and investment-related services across products such as equities, exchange-traded funds, options, futures, and other securities, subject to local regulations.

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