Prudential PLC Increases Position in UP Fintech Holding Limited $TIGR

Prudential PLC lifted its position in UP Fintech Holding Limited (NASDAQ:TIGR) by 44.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 477,049 shares of the company’s stock after purchasing an additional 147,514 shares during the period. Prudential PLC’s holdings in UP Fintech were worth $4,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of UP Fintech in the second quarter worth $33,000. SBI Securities Co. Ltd. increased its stake in shares of UP Fintech by 21.2% in the third quarter. SBI Securities Co. Ltd. now owns 7,737 shares of the company’s stock worth $83,000 after purchasing an additional 1,355 shares in the last quarter. Stonehaven Wealth & Tax Solutions LLC purchased a new stake in shares of UP Fintech in the fourth quarter worth $100,000. Quarry LP purchased a new stake in shares of UP Fintech in the third quarter worth $121,000. Finally, Cibc World Market Inc. purchased a new stake in shares of UP Fintech in the third quarter worth $124,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Price Performance

Shares of NASDAQ:TIGR opened at $4.48 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.12 and a current ratio of 1.10. The firm has a fifty day moving average price of $6.17 and a 200 day moving average price of $7.70. UP Fintech Holding Limited has a fifty-two week low of $4.00 and a fifty-two week high of $13.55. The firm has a market cap of $849.86 million, a price-to-earnings ratio of 7.47, a P/E/G ratio of 0.30 and a beta of 0.45.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Thursday, March 19th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. UP Fintech had a net margin of 17.64% and a return on equity of 13.90%. The firm had revenue of $156.54 million during the quarter, compared to analyst estimates of $142.01 million.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TIGR. Wall Street Zen cut shares of UP Fintech from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup reduced their price objective on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a research note on Wednesday. Bank of America reissued a “buy” rating on shares of UP Fintech in a research note on Monday, June 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.23.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.