Aspex Management HK Ltd Has $553.65 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

Aspex Management HK Ltd lifted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,371,597 shares of the company’s stock after buying an additional 919,724 shares during the period. Futu makes up about 11.2% of Aspex Management HK Ltd’s investment portfolio, making the stock its 2nd biggest position. Aspex Management HK Ltd’s holdings in Futu were worth $553,650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC raised its holdings in Futu by 2.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock valued at $403,000 after acquiring an additional 68 shares during the period. Lifestyle Asset Management Inc. raised its holdings in Futu by 2.2% during the fourth quarter. Lifestyle Asset Management Inc. now owns 3,420 shares of the company’s stock valued at $562,000 after acquiring an additional 72 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Futu by 3.3% during the fourth quarter. Orion Porfolio Solutions LLC now owns 2,391 shares of the company’s stock valued at $393,000 after acquiring an additional 77 shares during the period. Diversify Wealth Management LLC raised its holdings in Futu by 0.9% during the third quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock valued at $1,559,000 after acquiring an additional 83 shares during the period. Finally, Personal CFO Solutions LLC raised its holdings in Futu by 5.1% during the fourth quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock valued at $281,000 after acquiring an additional 83 shares during the period.

Futu Stock Up 2.1%

Shares of FUTU stock opened at $97.54 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53. The stock has a market capitalization of $13.67 billion, a PE ratio of 10.73, a P/E/G ratio of 1.12 and a beta of 0.40. The firm has a 50 day moving average of $132.97 and a two-hundred day moving average of $150.01.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The business had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current fiscal year.

Futu Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were given a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio (DPR) is currently 28.05%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. The Goldman Sachs Group lowered Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research report on Monday, May 25th. Barclays dropped their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Futu has an average rating of “Moderate Buy” and an average target price of $162.80.

About Futu

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.