Point72 Asset Management L.P. Acquires New Holdings in UP Fintech Holding Limited (NASDAQ:TIGR)

Point72 Asset Management L.P. purchased a new stake in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 123,239 shares of the company's stock, valued at approximately $796,000. Point72 Asset Management L.P. owned approximately 0.07% of UP Fintech at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jump Financial LLC purchased a new position in shares of UP Fintech during the fourth quarter valued at approximately $2,069,000. Nkcfo LLC purchased a new position in shares of UP Fintech during the fourth quarter valued at approximately $323,000. Quantbot Technologies LP purchased a new position in shares of UP Fintech during the fourth quarter valued at approximately $213,000. Atria Investments Inc purchased a new position in shares of UP Fintech during the fourth quarter valued at approximately $321,000. Finally, Dorsey Wright & Associates purchased a new position in shares of UP Fintech during the fourth quarter valued at approximately $2,579,000. Hedge funds and other institutional investors own 9.03% of the company's stock.

UP Fintech Stock Down 3.5%

TIGR stock traded down $0.30 during mid-day trading on Tuesday, hitting $8.45. 1,491,295 shares of the company were exchanged, compared to its average volume of 7,113,886. The company has a market capitalization of $1.56 billion, a PE ratio of 42.23 and a beta of 0.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. UP Fintech Holding Limited has a twelve month low of $3.36 and a twelve month high of $14.48. The firm has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $7.38.

UP Fintech (NASDAQ:TIGR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The company had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million.

Analysts Set New Price Targets

TIGR has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of UP Fintech in a research note on Monday, March 17th. They set a "buy" rating on the stock. Citigroup raised shares of UP Fintech from a "sell" rating to a "neutral" rating and increased their price target for the stock from $5.80 to $9.50 in a research note on Wednesday, March 19th.

UP Fintech Company 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.