TT International Asset Management LTD Trims Stake in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• TT International Asset Management LTD reduced its stake in Futu by 96.9% in Q4, selling 211,701 shares and leaving it with 6,856 shares worth $1.125 million (about 0.2% of its holdings and its 27th largest position).
• Futu reported strong quarterly results (EPS $3.07, revenue $771M, ROE 32.24%, net margin 49.63%) and announced a $2.60 special dividend payable April 29 with record/ex-dividend date April 16.
• Analyst sentiment is generally positive with an average rating of "Buy" and a $210.57 average target price; notable moves include Goldman Sachs upgrading to Buy (target $213.39) while Barclays trimmed its target to $200 but stayed overweight.

TT International Asset Management LTD trimmed its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 96.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,856 shares of the company's stock after selling 211,701 shares during the quarter. Futu comprises about 0.2% of TT International Asset Management LTD's holdings, making the stock its 27th largest position. TT International Asset Management LTD's holdings in Futu were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cooper Investors PTY Ltd. purchased a new position in Futu during the third quarter worth about $29,000. TD Private Client Wealth LLC grew its position in Futu by 6,075.0% during the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company's stock worth $43,000 after buying an additional 243 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Futu during the first quarter worth about $27,000. Quarry LP purchased a new position in Futu during the third quarter worth about $51,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Futu in the 4th quarter worth about $61,000.

Futu Trading Down 0.5%

NASDAQ FUTU opened at $154.50 on Friday. Futu Holdings Limited Sponsored ADR has a 1-year low of $74.10 and a 1-year high of $202.53. The stock has a 50-day moving average of $146.96 and a 200-day moving average of $163.16. The firm has a market cap of $21.50 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.88 and a beta of 0.42.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Sunday, February 15th. The company reported $3.07 earnings per share for the quarter. Futu had a return on equity of 32.24% and a net margin of 49.63%.The company had revenue of $771.00 million during the quarter. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Futu Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th will be paid a $2.60 dividend. The ex-dividend date of this dividend is Thursday, April 16th.

Analyst Ratings Changes

FUTU has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a report on Thursday, January 22nd. Barclays cut their price objective on Futu from $236.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Finally, The Goldman Sachs Group upgraded Futu from a "neutral" rating to a "buy" rating and set a $213.39 price objective for the company in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Futu presently has an average rating of "Buy" and an average target price of $210.57.

About Futu

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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