GAMMA Investing LLC Increases Stake in Futu Holdings Limited (NASDAQ:FUTU)

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

Several other hedge funds and other institutional investors also recently modified their holdings of FUTU. Arrowstreet Capital Limited Partnership purchased a new position in shares of Futu during the fourth quarter valued at about $116,315,000. Point72 Hong Kong Ltd increased its position in shares of Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after buying an additional 523,808 shares during the period. Norges Bank purchased a new position in shares of Futu during the fourth quarter valued at about $39,163,000. Candriam S.C.A. purchased a new position in shares of Futu during the fourth quarter valued at about $28,004,000. Finally, Man Group plc purchased a new position in shares of Futu during the fourth quarter valued at about $25,430,000.

Futu Stock Performance

FUTU stock opened at $106.07 on Friday. The firm has a 50 day moving average price of $96.44 and a 200-day moving average price of $96.62. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 0.79 and a beta of 0.67.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $594.86 million. As a group, sell-side analysts forecast that Futu Holdings Limited will post 4.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FUTU has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group raised their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Futu has an average rating of "Moderate Buy" and a consensus price target of $121.20.

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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