Wexford Capital LP Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

Wexford Capital LP acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,471 shares of the company's stock, valued at approximately $758,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Futu by 1.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock valued at $746,000 after acquiring an additional 113 shares in the last quarter. Rhumbline Advisers raised its holdings in Futu by 0.6% in the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock valued at $1,842,000 after acquiring an additional 144 shares in the last quarter. Vestcor Inc raised its holdings in Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after acquiring an additional 146 shares in the last quarter. Voya Investment Management LLC raised its holdings in Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after acquiring an additional 153 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after acquiring an additional 197 shares in the last quarter.

Futu Stock Performance

FUTU stock traded down $0.84 during midday trading on Wednesday, reaching $109.19. 1,926,056 shares of the company were exchanged, compared to its average volume of 2,837,606. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The stock's 50-day simple moving average is $96.66 and its 200 day simple moving average is $95.50. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Analyst Upgrades and Downgrades

FUTU has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group raised their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.20.

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.