NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Takes $2.05 Million Position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd acquired a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,000 shares of the company's stock, valued at approximately $2,047,000. Futu makes up 10.0% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd's holdings, making the stock its 4th largest position.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers lifted its position in Futu by 0.6% during the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock worth $1,842,000 after buying an additional 144 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Futu in the fourth quarter worth about $422,000. CIBC Asset Management Inc raised its stake in shares of Futu by 12.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,089 shares of the company's stock worth $487,000 after acquiring an additional 686 shares during the last quarter. GAM Holding AG acquired a new position in shares of Futu during the fourth quarter worth approximately $480,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Futu during the fourth quarter valued at approximately $2,436,000.

Analyst Ratings Changes

A number of brokerages have commented on FUTU. JPMorgan Chase & Co. increased their price objective on 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 price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. Finally, Bank of America lifted their price objective on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.98.

Futu Stock Performance

FUTU traded down $7.85 during trading on Friday, reaching $114.31. 2,070,976 shares of the company's stock were exchanged, compared to its average volume of 2,886,361. The company's fifty day moving average price is $102.38 and its 200-day moving average price is $98.47. The firm has a market capitalization of $15.91 billion, a PE ratio of 19.05, a P/E/G ratio of 0.97 and a beta of 0.58. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

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

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.