Renaissance Technologies LLC Has $91.77 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Renaissance Technologies trimmed its Futu Holdings stake by 11.4% in the first quarter, but still held 671,026 shares valued at about $91.77 million at the end of the period.
• Futu reported mixed quarterly results: EPS of $0.77 missed expectations of $2.89, and revenue of $694.17 million also came in below estimates. Despite that, the company posted a strong return on equity of 26.48% and net margin of 41.87%.
• The stock is facing negative headlines and weaker analyst sentiment, including securities fraud class action allegations and multiple rating cuts, though Wall Street’s consensus remains a Moderate Buy with a $162.80 average target price.

Renaissance Technologies LLC reduced its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 671,026 shares of the company's stock after selling 86,200 shares during the period. Renaissance Technologies LLC owned 0.48% of Futu worth $91,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Futu in the first quarter valued at about $25,000. Rockefeller Capital Management L.P. lifted its position in shares of Futu by 59.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Futu during the 1st quarter valued at approximately $27,000. Quarry LP bought a new stake in Futu during the 3rd quarter valued at approximately $51,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Futu in the fourth quarter valued at approximately $49,000.

Futu Stock Performance

Shares of FUTU stock opened at $99.36 on Friday. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.17 and a beta of 0.39. The firm has a fifty day moving average of $100.01 and a 200-day moving average of $135.27.

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The business had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. On average, sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Key Headlines Impacting Futu

Here are the key news stories impacting Futu this week:

• Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
• Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
• Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU

Analysts Set New Price Targets

FUTU has been the topic of several research analyst reports. Zacks Research lowered shares of Futu from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $170.50 target price on shares of Futu in a research note on Thursday, May 28th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. The Goldman Sachs Group lowered Futu from a "buy" rating to a "neutral" rating and set a $102.13 price target on the stock. in a research note on Monday, May 25th. Finally, Wall Street Zen cut Futu from a "hold" rating to a "sell" rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $162.80.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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