Yousif Capital Management LLC Takes $447,000 Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Yousif Capital Management LLC has acquired a new position in Futu Holdings Limited, purchasing 3,617 shares valued at approximately $447,000.
• Several other institutional investors have significantly increased their stakes in Futu, including UBS Asset Management with an 883.4% boost in its holdings during the first quarter.
• Analysts have issued a mix of ratings for Futu, with a consensus target price of $190.43, indicating a generally positive outlook for the stock.

Yousif Capital Management LLC acquired a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,617 shares of the company's stock, valued at approximately $447,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hhlr Advisors LTD. boosted its position in shares of Futu by 285.2% during the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock valued at $440,872,000 after buying an additional 3,189,189 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its position in Futu by 48.2% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company's stock valued at $194,632,000 after purchasing an additional 618,701 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Futu by 30.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company's stock worth $182,824,000 after acquiring an additional 417,620 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Futu by 883.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock worth $101,262,000 after buying an additional 888,760 shares during the period. Finally, Trivest Advisors Ltd bought a new stake in Futu during the 1st quarter valued at approximately $98,651,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FUTU shares. Daiwa Capital Markets assumed coverage on Futu in a research report on Monday, August 11th. They issued a "buy" rating and a $190.00 price target for the company. Barclays boosted their target price on Futu from $176.00 to $232.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Futu in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of Futu from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Finally, Citigroup increased their price target on Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Futu Trading Up 3.6%

NASDAQ:FUTU opened at $170.69 on Friday. The stock has a 50 day moving average of $176.11 and a two-hundred day moving average of $138.70. Futu Holdings Limited Sponsored ADR has a 12 month low of $70.60 and a 12 month high of $199.86. The firm has a market cap of $23.75 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 0.72 and a beta of 0.48.

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.

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