Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) is Brilliance Asset Management Ltd.'s 6th Largest Position

Key Points

• Brilliance Asset Management Ltd. has reduced its holdings in Futu Holdings Limited by 4.6%, making it the firm's 6th largest position, comprising approximately 5.9% of their total assets.
• Futu's stock has seen significant activity, with several hedge funds increasing their stakes, including Trivest Advisors Ltd. acquiring a new position worth $98.65 million in the first quarter.
• The company reported an earnings per share (EPS) of $1.96 for the last quarter, exceeding analysts' expectations, while the stock currently holds an average rating of "Moderate Buy" with a price target of $152.82.

Brilliance Asset Management Ltd. trimmed its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 173,472 shares of the company's stock after selling 8,302 shares during the period. Futu makes up about 5.9% of Brilliance Asset Management Ltd.'s holdings, making the stock its 6th largest holding. Brilliance Asset Management Ltd. owned approximately 0.12% of Futu worth $17,755,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FUTU. Trivest Advisors Ltd acquired a new position in Futu during the first quarter worth $98,651,000. Yong Rong HK Asset Management Ltd acquired a new position in Futu during the first quarter worth $77,172,000. Point72 Hong Kong Ltd lifted its stake in Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock worth $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Ninety One UK Ltd acquired a new position in Futu during the first quarter worth $42,903,000. Finally, Jennison Associates LLC acquired a new position in Futu during the first quarter worth $42,610,000.

Futu Stock Performance

FUTU opened at $156.59 on Friday. The business's 50-day simple moving average is $132.93 and its 200-day simple moving average is $112.60. Futu Holdings Limited Sponsored ADR has a one year low of $56.22 and a one year high of $174.36. The stock has a market capitalization of $21.79 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 0.97 and a beta of 0.49.

Futu (NASDAQ:FUTU - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%. The business had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. On average, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays started coverage on Futu in a research note on Thursday, July 17th. They set an "overweight" rating and a $176.00 price target on the stock. Citigroup lifted their target price on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Bank of America lifted their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.82.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.

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