Polymer Capital Management HK LTD Has $9.40 Million Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Polymer Capital Management HK LTD cut its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,226 shares of the company’s stock after selling 8,784 shares during the quarter. Futu makes up 1.3% of Polymer Capital Management HK LTD’s portfolio, making the stock its 17th largest position. Polymer Capital Management HK LTD’s holdings in Futu were worth $9,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Futu in the first quarter valued at $27,000. Hilton Head Capital Partners LLC bought a new position in Futu in the fourth quarter valued at about $49,000. Quarry LP bought a new position in Futu in the third quarter valued at about $51,000. Farther Finance Advisors LLC boosted its holdings in Futu by 53.2% in the fourth quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock valued at $54,000 after acquiring an additional 115 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Futu in the fourth quarter valued at about $61,000.

Futu Trading Up 2.1%

FUTU stock opened at $97.54 on Friday. The business’s 50-day moving average price is $132.97 and its two-hundred day moving average price is $150.01. The firm has a market cap of $13.67 billion, a PE ratio of 10.73, a P/E/G ratio of 1.12 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 1-year low of $80.50 and a 1-year high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). The business had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. On average, analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Dividend Announcement

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

Analyst Upgrades and Downgrades

FUTU has been the topic of several recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $87.00 price target (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a report on Monday, May 25th. Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, Barclays decreased their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.