Arrowstreet Capital Limited Partnership Sells 294,488 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Arrowstreet Capital Limited Partnership cut its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 17.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,365,680 shares of the company’s stock after selling 294,488 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Futu were worth $224,258,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in Futu during the 1st quarter worth $27,000. Hilton Head Capital Partners LLC acquired a new position in Futu during the 4th quarter worth $49,000. Parkside Financial Bank & Trust lifted its holdings in Futu by 30,000.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock worth $49,000 after buying an additional 300 shares in the last quarter. Quarry LP acquired a new position in Futu during the 3rd quarter worth $51,000. Finally, Farther Finance Advisors LLC lifted its holdings in 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 in the last quarter.

Futu Price Performance

FUTU stock opened at $97.54 on Monday. The business’s fifty day moving average is $132.97 and its 200-day moving average is $149.86. The company has a market cap of $13.67 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results 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). The company had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Announces Dividend

The business also recently declared 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 of this dividend was Thursday, April 16th. Futu’s dividend payout ratio is 28.05%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FUTU shares. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a 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 report on Friday, May 22nd. Barclays reduced their price objective on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a report on Monday, May 25th. Finally, Zacks Research downgraded Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus target price 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.