GAMMA Investing LLC Grows Position in Futu Holdings Limited (NASDAQ:FUTU)

GAMMA Investing LLC increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 11,542.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,580 shares of the company's stock after acquiring an additional 89,802 shares during the quarter. GAMMA Investing LLC owned approximately 0.07% of Futu worth $9,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Futu during the 4th quarter valued at about $116,315,000. Hhlr Advisors LTD. boosted its stake in Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock worth $89,453,000 after buying an additional 67,214 shares during the period. Point72 Hong Kong Ltd boosted 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 buying an additional 523,808 shares during the period. Geode Capital Management LLC boosted its stake in Futu by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock worth $44,890,000 after buying an additional 21,686 shares during the period. Finally, Norges Bank purchased a new position in Futu during the fourth quarter worth about $39,163,000.

Futu Price Performance

Shares of FUTU stock traded up $7.11 during trading hours on Wednesday, reaching $114.68. 3,637,330 shares of the stock were exchanged, compared to its average volume of 2,889,557. The business's fifty day moving average is $97.37 and its two-hundred day moving average is $97.07. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The firm has a market capitalization of $15.96 billion, a P/E ratio of 28.11, a P/E/G ratio of 0.79 and a beta of 0.58.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. Futu had a net margin of 38.59% and a return on equity of 16.86%. The firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. As a group, equities research analysts predict that Futu Holdings Limited will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America increased their target price on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group increased their target price on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.98.

Futu Company Profile

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.