Quantbot Technologies LP Invests $784,000 in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Quantbot Technologies LP has acquired a new stake in Futu Holdings Limited, purchasing 7,661 shares valued at approximately $784,000.
• Several institutional investors, including Trivest Advisors Ltd and Yong Rong HK Asset Management Ltd, have significantly increased their stakes in Futu during the first quarter, indicating strong institutional interest in the company.
• Analysts have recently upgraded Futu's stock ratings, with targets ranging from $190.00 to $232.00, reflecting growing confidence in the company's performance and potential.

Quantbot Technologies LP bought a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,661 shares of the company's stock, valued at approximately $784,000.

Several other institutional investors also recently bought and sold shares of the business. Korea Investment CORP increased its holdings in Futu by 3.1% during the first quarter. Korea Investment CORP now owns 37,352 shares of the company's stock valued at $3,823,000 after buying an additional 1,138 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Futu by 4.8% during the first quarter. State of New Jersey Common Pension Fund D now owns 28,560 shares of the company's stock worth $2,923,000 after buying an additional 1,300 shares during the period. Ethic Inc. lifted its position in Futu by 48.4% during the first quarter. Ethic Inc. now owns 7,998 shares of the company's stock valued at $827,000 after purchasing an additional 2,607 shares during the period. Aberdeen Group plc lifted its position in Futu by 9.7% during the first quarter. Aberdeen Group plc now owns 71,497 shares of the company's stock valued at $7,215,000 after purchasing an additional 6,327 shares during the period. Finally, E Fund Management Co. Ltd. lifted its position in Futu by 12.5% during the first quarter. E Fund Management Co. Ltd. now owns 373,173 shares of the company's stock valued at $38,194,000 after purchasing an additional 41,424 shares during the period.

Futu Trading Up 1.2%

Shares of NASDAQ FUTU traded up $2.18 during mid-day trading on Thursday, reaching $186.11. The company had a trading volume of 2,228,022 shares, compared to its average volume of 2,683,461. The firm has a 50 day simple moving average of $151.15 and a two-hundred day simple moving average of $120.35. The stock has a market cap of $25.90 billion, a P/E ratio of 25.81, a PEG ratio of 0.84 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 52-week low of $56.22 and a 52-week high of $197.35.

Futu (NASDAQ:FUTU - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The firm had revenue of $603.43 million for the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. On average, equities analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on FUTU. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Barclays upped their price objective on shares of Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Bank of America upped their price objective on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Citigroup boosted their target price on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Finally, Daiwa Capital Markets assumed coverage on shares of Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $190.43.

Futu 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.