Munro Partners Invests $6.43 Million in Futu Holdings Limited Sponsored ADR $FUTU

Munro Partners bought a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 39,150 shares of the company’s stock, valued at approximately $6,429,000.

Other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Futu during the third quarter valued at approximately $3,439,000. Capital International Inc. CA purchased a new position in Futu during the third quarter valued at approximately $39,369,000. Quadrature Capital Ltd grew its position in Futu by 818.0% during the third quarter. Quadrature Capital Ltd now owns 211,407 shares of the company’s stock valued at $36,766,000 after purchasing an additional 188,379 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Futu by 225.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,648 shares of the company’s stock valued at $6,182,000 after purchasing an additional 26,091 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Futu by 3,105.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 60,900 shares of the company’s stock valued at $10,000,000 after purchasing an additional 59,000 shares in the last quarter.

Futu Stock Up 2.6%

FUTU stock opened at $100.12 on Tuesday. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.14 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53. The firm has a 50 day moving average of $132.17 and a two-hundred day moving average of $149.38.

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

Futu Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on FUTU. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $87.00 price objective (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a research report on Monday, May 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 price objective on shares of Futu in a research report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

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.