UP Fintech Holding Limited $TIGR Shares Acquired by Sparta 24 Ltd.

Key Points

• Sparta 24 Ltd. increased its UP Fintech stake by 9.1% in the first quarter, buying 482,607 more shares and bringing its total to 5,808,267 shares. The position was worth about $36.6 million and made up 41.8% of the fund’s portfolio.
• Several other institutional investors also boosted or initiated positions in TIGR, and hedge funds and institutions now own about 9.03% of the company. Meanwhile, insider activity included Director Jian Liu selling 9,333 shares at $4.60 each.
• Analyst sentiment is mixed but generally positive, with a Moderate Buy consensus and an average price target of $9.23. Shares recently traded around $4.61, near the stock’s 52-week low of $4.00 and well below its 52-week high of $13.55.

Sparta 24 Ltd. boosted its position in shares of UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,808,267 shares of the company's stock after purchasing an additional 482,607 shares during the period. UP Fintech accounts for 41.8% of Sparta 24 Ltd.'s investment portfolio, making the stock its biggest holding. Sparta 24 Ltd. owned 3.11% of UP Fintech worth $36,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors acquired a new position in UP Fintech during the fourth quarter valued at $47,855,000. Jupiter Asset Management Ltd. grew its stake in UP Fintech by 157.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company's stock valued at $40,307,000 after acquiring an additional 2,577,459 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in UP Fintech by 66.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company's stock valued at $57,705,000 after acquiring an additional 2,161,023 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of UP Fintech by 450.4% in the 3rd quarter. National Bank of Canada FI now owns 1,976,720 shares of the company's stock valued at $21,092,000 after purchasing an additional 1,617,600 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of UP Fintech by 122.6% in the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock valued at $22,025,000 after purchasing an additional 1,257,251 shares during the period. Institutional investors and hedge funds own 9.03% of the company's stock.

Insider Buying and Selling at UP Fintech

In related news, Director Jian Liu sold 9,333 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director owned 62,665 shares in the company, valued at $288,259. This represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 50.90% of the company's stock.

Wall Street Analyst Weigh In

TIGR has been the subject of several research reports. Wall Street Zen cut shares of UP Fintech from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of UP Fintech in a research note on Monday, April 20th. Bank of America reiterated a "buy" rating on shares of UP Fintech in a research report on Monday, June 1st. Finally, Citigroup decreased their target price on shares of UP Fintech to $7.10 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.23.

UP Fintech Stock Down 0.4%

UP Fintech stock opened at $4.61 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10. UP Fintech Holding Limited has a fifty-two week low of $4.00 and a fifty-two week high of $13.55. The firm has a fifty day moving average price of $4.96 and a two-hundred day moving average price of $6.82. The firm has a market cap of $874.51 million, a price-to-earnings ratio of 7.68 and a beta of 0.45.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company's primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.

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