TT International Asset Management LTD Takes $38.01 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

TT International Asset Management LTD bought a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 218,557 shares of the company’s stock, valued at approximately $38,009,000. Futu accounts for about 5.3% of TT International Asset Management LTD’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Futu by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after buying an additional 5,056 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Futu during the 1st quarter valued at approximately $14,340,000. Public Sector Pension Investment Board lifted its position in shares of Futu by 5.1% during the 1st quarter. Public Sector Pension Investment Board now owns 45,314 shares of the company’s stock valued at $4,638,000 after acquiring an additional 2,200 shares during the period. Aberdeen Group plc boosted its stake in shares of Futu by 9.7% during the 1st quarter. Aberdeen Group plc now owns 71,497 shares of the company’s stock worth $7,215,000 after acquiring an additional 6,327 shares in the last quarter. Finally, Ethic Inc. grew its holdings in shares of Futu by 48.4% in the 1st quarter. Ethic Inc. now owns 7,998 shares of the company’s stock worth $827,000 after acquiring an additional 2,607 shares during the period.

Analyst Ratings Changes

FUTU has been the subject of several research reports. Bank of America lifted their price objective on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Barclays upped their price target on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Finally, Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Futu has a consensus rating of “Buy” and a consensus target price of $203.67.

Futu Stock Down 5.6%

Shares of NASDAQ FUTU opened at $161.89 on Tuesday. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53. The business has a 50 day moving average price of $173.23 and a two-hundred day moving average price of $160.58. The firm has a market cap of $22.53 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.56 and a beta of 0.19.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The company had revenue of $822.80 million during the quarter, compared to analysts’ expectations of $631.51 million. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

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.