Futu Holdings Limited Sponsored ADR $FUTU Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Futu by 48.1% in Q4, acquiring an additional 18,655 shares to hold 57,437 shares worth about $9.43 million.
• Futu declared a special dividend of $2.60 per share (record/ex-dividend date April 16, payable April 29), with a payout ratio of 24.81%.
• Futu reported strong quarterly results (EPS $3.07, revenue $771M, ROE 32.24%, net margin 49.63%) and has a consensus analyst rating of "Buy" with a $210.57 average target price.

Mirae Asset Global Investments Co. Ltd. raised its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,437 shares of the company's stock after acquiring an additional 18,655 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Futu were worth $9,432,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH raised its holdings in shares of Futu by 936.3% in the third quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company's stock worth $8,977,000 after acquiring an additional 46,639 shares during the last quarter. Veritas Asset Management LLP raised its holdings in shares of Futu by 40.9% in the third quarter. Veritas Asset Management LLP now owns 420,857 shares of the company's stock worth $73,191,000 after acquiring an additional 122,207 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Futu in the third quarter worth $19,420,000. Lingohr Asset Management GmbH acquired a new position in shares of Futu in the third quarter worth $2,922,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Futu in the third quarter worth $3,439,000.

Futu Stock Performance

Futu stock opened at $166.93 on Monday. The firm has a market capitalization of $23.23 billion, a P/E ratio of 16.24, a PEG ratio of 0.96 and a beta of 0.42. The stock has a fifty day moving average price of $147.73 and a 200 day moving average price of $162.63. Futu Holdings Limited Sponsored ADR has a 52 week low of $77.65 and a 52 week high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. The firm had revenue of $771.00 million during the quarter. Futu had a return on equity of 32.24% and a net margin of 49.63%. As a group, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th will be given a dividend of $2.60 per share. The ex-dividend date of this dividend is Thursday, April 16th. Futu's payout ratio is 24.81%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FUTU. Barclays cut their price target on Futu from $236.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, March 16th. The Goldman Sachs Group upgraded Futu from a "neutral" rating to a "buy" rating and set a $213.39 target price for the company in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $210.57.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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