Townsquare Capital LLC Has $723,000 Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Townsquare Capital LLC increased its stake in Futu Holdings Limited by 28.6% in the first quarter, acquiring an additional 1,571 shares, bringing its total holdings to 7,061 shares valued at approximately $723,000.
• Several hedge funds, including Allianz SE and Point72 Asia, have also made significant changes to their positions in Futu, reflecting growing institutional interest in the company.
• A number of analysts have upgraded their ratings on Futu, with Bank of America raising its price target from $123.70 to $143.90, and Daiwa Capital Markets issuing a "buy" rating with a price target of $190.00.

Townsquare Capital LLC increased its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,061 shares of the company's stock after acquiring an additional 1,571 shares during the quarter. Townsquare Capital LLC's holdings in Futu were worth $723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. National Bank of Canada FI acquired a new position in shares of Futu in the first quarter valued at approximately $60,847,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Futu by 39.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 53,170 shares of the company's stock valued at $5,442,000 after buying an additional 15,060 shares during the period. CenterBook Partners LP acquired a new position in shares of Futu in the first quarter valued at approximately $1,102,000. Deutsche Bank AG lifted its position in shares of Futu by 33.0% in the first quarter. Deutsche Bank AG now owns 124,090 shares of the company's stock worth $12,701,000 after purchasing an additional 30,791 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Futu by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company's stock worth $6,901,000 after purchasing an additional 5,056 shares in the last quarter.

Futu Stock Down 2.5%

Shares of Futu stock traded down $4.40 during trading on Tuesday, reaching $168.52. The company's stock had a trading volume of 2,204,166 shares, compared to its average volume of 2,668,836. The business's 50-day moving average price is $141.71 and its 200-day moving average price is $116.45. The firm has a market cap of $23.45 billion, a PE ratio of 28.09, a P/E/G ratio of 1.08 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 $179.17.

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

Analysts Set New Price Targets

A number of analysts have recently commented on FUTU shares. Bank of America boosted their price objective on shares of Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Citigroup boosted their price objective on shares of Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Daiwa America raised shares of Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Barclays initiated coverage on shares of Futu in a research report on Thursday, July 17th. They issued an "overweight" rating and a $176.00 price objective on the stock. Finally, Daiwa Capital Markets initiated coverage on shares of Futu in a report on Monday, August 11th. They set 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 issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $158.13.

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.