Greenwich Wealth Management LLC Purchases 206,000 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Greenwich Wealth Management LLC lifted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 68.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 507,500 shares of the company’s stock after purchasing an additional 206,000 shares during the period. Futu accounts for 3.7% of Greenwich Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Greenwich Wealth Management LLC owned 0.36% of Futu worth $83,337,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in shares of Futu during the 1st quarter worth about $27,000. Quarry LP bought a new stake in shares of Futu during the 3rd quarter worth about $51,000. Farther Finance Advisors LLC boosted its holdings in shares of Futu by 53.2% during the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock worth $54,000 after buying an additional 115 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Futu during the 4th quarter worth about $61,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Futu by 442.4% during the 1st quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after buying an additional 522 shares during the period.

Analyst Upgrades and Downgrades

FUTU has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Barclays reduced their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and set a $170.50 target price on shares of Futu in a report on Thursday, May 28th. Finally, The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Futu Stock Down 0.9%

Shares of NASDAQ:FUTU opened at $101.97 on Wednesday. The company’s 50 day moving average price is $140.57 and its two-hundred day moving average price is $154.55. 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 market cap of $14.29 billion, a PE ratio of 11.22, a PEG ratio of 1.01 and a beta of 0.40.

Futu (NASDAQ:FUTU) last announced its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) 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 business had revenue of $694.17 million for the quarter, compared to analyst estimates of $761.35 million. On average, research analysts expect that Futu Holdings Limited Sponsored ADR will post 10.68 EPS for the current year.

Futu Announces Dividend

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

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.