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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hhlr Advisors LTD. increased its position in Futu by 6.4% during the 4th quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock valued at $89,453,000 after buying an additional 67,214 shares in the last quarter. Trivest Advisors Ltd bought a new position in Futu during the 1st quarter valued at approximately $98,651,000. Point72 Hong Kong Ltd increased its position in Futu by 170.6% during the 4th 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 in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in Futu during the 1st quarter valued at approximately $77,172,000. Finally, National Bank of Canada FI bought a new position in Futu during the 1st quarter valued at approximately $60,847,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on FUTU. Daiwa America raised Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Daiwa Capital Markets began coverage on Futu in a report on Monday, August 11th. They issued a "buy" rating and a $190.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Futu from $200.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays lifted their target price on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, Citigroup lifted their target price on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $190.43.

Futu Stock Performance

Shares of FUTU stock traded down $0.51 on Friday, reaching $185.60. The stock had a trading volume of 2,312,874 shares, compared to its average volume of 2,417,775. The stock has a market cap of $25.82 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 0.82 and a beta of 0.49. Futu Holdings Limited Sponsored ADR has a 1 year low of $56.22 and a 1 year high of $197.35. The company has a 50 day simple moving average of $153.85 and a 200 day simple moving average of $121.48.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 return on equity of 26.36% and a net margin of 44.25%. On average, equities research analysts anticipate 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.