Futu Holdings Limited Sponsored ADR $FUTU Shares Bought by AI Squared Management Ltd

AI Squared Management Ltd grew its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 1,088.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,400 shares of the company’s stock after acquiring an additional 19,600 shares during the period. Futu comprises approximately 4.1% of AI Squared Management Ltd’s holdings, making the stock its 12th biggest position. AI Squared Management Ltd’s holdings in Futu were worth $3,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Amitell Capital Pte Ltd acquired a new position in Futu during the 4th quarter worth $883,000. Aviva PLC boosted its holdings in shares of Futu by 3.5% in the 4th quarter. Aviva PLC now owns 104,192 shares of the company’s stock valued at $17,109,000 after buying an additional 3,561 shares during the period. Myriad Asset Management Advisors LLC acquired a new position in shares of Futu in the 4th quarter valued at about $1,422,000. Westerkirk Capital Inc. boosted its holdings in shares of Futu by 300.0% in the 4th quarter. Westerkirk Capital Inc. now owns 2,000 shares of the company’s stock valued at $328,000 after buying an additional 1,500 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Futu by 36.2% in the 4th quarter. LPL Financial LLC now owns 24,018 shares of the company’s stock valued at $3,944,000 after buying an additional 6,382 shares during the period.

Wall Street Analyst Weigh In

FUTU has been the subject of several research reports. Wall Street Zen lowered shares of Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Barclays decreased their price target 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. The Goldman Sachs Group lowered shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a report on Monday, May 25th. Zacks Research lowered shares of Futu from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $170.50 price target on shares of Futu in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Trading Up 2.8%

FUTU stock opened at $95.53 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.09 and a beta of 0.40. The firm’s 50-day moving average is $133.82 and its two-hundred day moving average is $150.38.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.77 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 company had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. On average, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Dividend Announcement

The business also recently declared 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 payout ratio is 28.05%.

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.