Eschler Asset Management LLP Purchases New Shares in Futu Holdings Limited Sponsored ADR $FUTU

Eschler Asset Management LLP purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the fourth quarter, Holdings Channel.com reports. The firm purchased 11,000 shares of the company’s stock, valued at approximately $1,806,000. Futu makes up about 1.2% of Eschler Asset Management LLP’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also made changes to their positions in FUTU. AQR Capital Management LLC bought a new position in shares of Futu in the first quarter valued at about $235,000. Jones Financial Companies Lllp raised its holdings in shares of Futu by 442.4% in the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after buying an additional 522 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Futu by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after buying an additional 16,255 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Futu in the first quarter valued at about $27,000. Finally, American Century Companies Inc. raised its holdings in shares of Futu by 9.2% in the second quarter. American Century Companies Inc. now owns 9,905 shares of the company’s stock valued at $1,224,000 after buying an additional 836 shares during the last quarter.

Analyst Ratings Changes

FUTU has been the topic of a number of recent research reports. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 price objective (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Barclays decreased their price objective on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 price objective on shares of Futu in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective for the company. in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Futu Trading Up 2.1%

Shares of NASDAQ:FUTU opened at $97.54 on Friday. The stock has a market capitalization of $13.67 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.14 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 1-year low of $80.50 and a 1-year high of $202.53. The business has a 50-day moving average price of $132.97 and a two-hundred day moving average price of $150.01.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). The firm had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. As a group, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

Futu Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were issued a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is currently 28.05%.

Futu 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.