OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Futu Holdings Limited Sponsored ADR $FUTU

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 36,021 shares of the company’s stock, valued at approximately $5,915,000.

Other hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Futu by 805.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after purchasing an additional 1,002,171 shares during the last quarter. Aspex Management HK Ltd raised its stake in shares of Futu by 37.5% during the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after purchasing an additional 919,724 shares during the period. Tredje AP fonden raised its stake in shares of Futu by 3,579.1% during the 3rd quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after purchasing an additional 669,300 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Futu by 25,558,100.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after buying an additional 511,162 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. bought a new position in Futu during the third quarter valued at about $64,250,000.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Barclays dropped their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Zacks Research lowered shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. 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 research note on Monday, May 25th. Finally, JPMorgan Chase & Co. reissued 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Stock Performance

FUTU opened at $96.64 on Friday. The company has a 50 day moving average of $128.30 and a 200 day moving average of $147.48. The company has a market cap of $13.55 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 12 month low of $80.50 and a 12 month high of $202.53.

Futu (NASDAQ:FUTU) last released its quarterly earnings data 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). Futu had a net margin of 41.87% and a return on equity of 26.48%. The business had revenue of $694.17 million during the quarter, compared to analysts’ expectations of $761.35 million. Research analysts forecast 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 given a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is 28.05%.

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.