OVERSEA CHINESE BANKING Corp Ltd Acquires New Holdings in UP Fintech Holding Limited $TIGR

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 58,240 shares of the company’s stock, valued at approximately $621,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sparta 24 Ltd. lifted its holdings in shares of UP Fintech by 71.2% in the 2nd quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock worth $60,418,000 after acquiring an additional 2,603,842 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in UP Fintech in the second quarter valued at approximately $24,456,000. Arrowstreet Capital Limited Partnership lifted its stake in UP Fintech by 282.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,247,099 shares of the company’s stock worth $31,335,000 after purchasing an additional 2,397,261 shares in the last quarter. Jump Financial LLC purchased a new position in shares of UP Fintech during the second quarter worth $12,993,000. Finally, Bank of America Corp DE grew its stake in shares of UP Fintech by 122.6% in the second quarter. Bank of America Corp DE now owns 2,282,337 shares of the company’s stock valued at $22,025,000 after buying an additional 1,257,251 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Price Performance

UP Fintech stock opened at $9.25 on Friday. The business has a 50 day simple moving average of $9.29 and a 200-day simple moving average of $10.11. UP Fintech Holding Limited has a 12 month low of $6.07 and a 12 month high of $13.55. The stock has a market capitalization of $1.71 billion, a PE ratio of 11.14 and a beta of 0.29.

UP Fintech (NASDAQ:TIGR) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. UP Fintech had a net margin of 27.42% and a return on equity of 21.09%. The company had revenue of $175.16 million during the quarter, compared to the consensus estimate of $132.76 million. During the same quarter in the prior year, the firm earned $0.11 EPS.

Analysts Set New Price Targets

TIGR has been the topic of several research reports. The Goldman Sachs Group reissued a “sell” rating and set a $4.73 target price on shares of UP Fintech in a research note on Friday, December 5th. Jefferies Financial Group assumed coverage on shares of UP Fintech in a research note on Monday, September 29th. They issued a “buy” rating and a $12.00 price objective for the company. Citigroup lifted their price objective on shares of UP Fintech to $17.50 and gave the company a “buy” rating in a report on Friday, December 5th. Wall Street Zen lowered shares of UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, UBS Group assumed coverage on shares of UP Fintech in a research note on Thursday, October 23rd. They issued a “buy” rating and a $13.10 price target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, UP Fintech currently has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.