Matthews International Capital Management LLC Has $8.35 Million Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Matthews International Capital Management LLC raised its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 111.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,988 shares of the company’s stock after acquiring an additional 25,257 shares during the period. Futu makes up approximately 1.9% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Matthews International Capital Management LLC’s holdings in Futu were worth $8,346,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Hhlr Advisors LTD. boosted its stake in Futu by 285.2% in the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after purchasing an additional 3,189,189 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Futu by 883.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock worth $101,262,000 after buying an additional 888,760 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Futu by 113.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the period. Aspex Management HK Ltd grew its stake in shares of Futu by 21.1% in the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after acquiring an additional 591,082 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Futu by 166.4% during the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company’s stock worth $56,266,000 after acquiring an additional 284,387 shares during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on FUTU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays lifted their price objective on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, Dbs Bank raised Futu to a “moderate buy” rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $203.67.

Futu Price Performance

Shares of FUTU opened at $165.19 on Friday. The firm has a 50 day simple moving average of $173.25 and a two-hundred day simple moving average of $163.82. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53. The company has a market cap of $22.98 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.54 and a beta of 0.19.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The company had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. On average, analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Futu Company 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.