Townsquare Capital LLC Acquires 1,571 Shares of 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 raised its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 28.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,061 shares of the company's stock after purchasing an additional 1,571 shares during the period. Townsquare Capital LLC's holdings in Futu were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FUTU. Trivest Advisors Ltd acquired a new position in Futu during the 1st quarter valued at about $98,651,000. Yong Rong HK Asset Management Ltd acquired a new position in Futu during the 1st quarter valued at about $77,172,000. National Bank of Canada FI acquired a new position in Futu during the 1st quarter valued at about $60,847,000. Point72 Hong Kong Ltd lifted 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 purchasing an additional 523,808 shares during the period. Finally, Ninety One UK Ltd acquired a new position in Futu during the 1st quarter valued at about $42,903,000.

Futu Stock Performance

FUTU stock traded up $1.79 during mid-day trading on Thursday, hitting $180.45. 3,727,882 shares of the company were exchanged, compared to its average volume of 2,220,015. The firm has a market cap of $25.11 billion, a P/E ratio of 25.03, a P/E/G ratio of 1.11 and a beta of 0.49. The firm's 50 day simple moving average is $145.54 and its 200 day simple moving average is $117.85. Futu Holdings Limited Sponsored ADR has a 1-year low of $56.22 and a 1-year high of $184.45.

Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping the consensus estimate 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 27.28%. On average, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Analysts Set New Price Targets

FUTU has been the topic of a number of analyst reports. 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 target on the stock. Daiwa Capital Markets initiated coverage on shares of Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 price target on the stock. Bank of America increased their price target on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday. Daiwa America upgraded shares of Futu to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Citigroup increased their price target on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Futu presently has an average rating of "Buy" and a consensus price target of $168.14.

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.