Millennium Management LLC Acquires 777,776 Shares of UP Fintech Holding Limited $TIGR

Key Points

• Millennium Management LLC increased its stake in UP Fintech Holding Limited by 48%, acquiring an additional 777,776 shares to own approximately 2.4 million shares valued at $20.6 million.
• Several institutional investors, including Two Sigma Investments and BNP Paribas Financial Markets, have significantly raised their holdings in UP Fintech, reflecting growing confidence in the company's prospects.
• Analysts have recently upgraded their ratings for UP Fintech, with Citigroup raising its price target from $9.50 to $14.00, indicating positive sentiment toward the stock.

Millennium Management LLC lifted its holdings in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,398,744 shares of the company's stock after buying an additional 777,776 shares during the quarter. Millennium Management LLC owned about 1.30% of UP Fintech worth $20,605,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TIGR. Two Sigma Investments LP grew its holdings in UP Fintech by 808.5% during the fourth quarter. Two Sigma Investments LP now owns 1,817,787 shares of the company's stock valued at $11,743,000 after purchasing an additional 1,617,702 shares during the period. Sparta 24 Ltd. lifted its stake in UP Fintech by 48.0% in the first quarter. Sparta 24 Ltd. now owns 3,657,104 shares of the company's stock valued at $31,415,000 after buying an additional 1,186,137 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in UP Fintech in the first quarter valued at approximately $9,467,000. Two Sigma Advisers LP lifted its stake in UP Fintech by 841.6% in the fourth quarter. Two Sigma Advisers LP now owns 888,900 shares of the company's stock valued at $5,742,000 after buying an additional 794,500 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in UP Fintech by 3,857.3% in the fourth quarter. BNP Paribas Financial Markets now owns 136,290 shares of the company's stock valued at $880,000 after buying an additional 132,846 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company's stock.

UP Fintech Stock Performance

TIGR stock opened at $11.26 on Friday. The company's 50-day simple moving average is $10.85 and its 200 day simple moving average is $9.16. UP Fintech Holding Limited has a 52 week low of $3.39 and a 52 week high of $14.48. The company has a market capitalization of $2.08 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.73 and a beta of 0.64.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TIGR shares. Wall Street Zen raised shares of UP Fintech from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Citigroup upgraded shares of UP Fintech from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.50 to $14.00 in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $10.33.

UP Fintech Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.

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