Lingohr Asset Management GmbH Makes New $2.92 Million Investment in Futu Holdings Limited Sponsored ADR $FUTU

Lingohr Asset Management GmbH purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,800 shares of the company’s stock, valued at approximately $2,922,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FUTU. Matthews International Capital Management LLC acquired a new stake in shares of Futu in the second quarter valued at $2,809,000. Resona Asset Management Co. Ltd. grew its position in Futu by 29.8% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock valued at $2,499,000 after acquiring an additional 4,650 shares in the last quarter. ARK Investment Management LLC increased its stake in Futu by 5.2% during the second quarter. ARK Investment Management LLC now owns 130,439 shares of the company’s stock worth $16,121,000 after purchasing an additional 6,480 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Futu by 14,928.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,767 shares of the company’s stock worth $4,420,000 after purchasing an additional 35,529 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in shares of Futu in the third quarter valued at approximately $19,420,000.

Futu Trading Down 1.4%

Shares of FUTU stock opened at $162.57 on Friday. The stock has a 50 day simple moving average of $169.70 and a 200-day simple moving average of $171.68. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.42 and a beta of 0.20. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. On average, equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $203.67.

Futu Company Profile

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.