Y Intercept Hong Kong Ltd Sells 329,539 Shares of UP Fintech Holding Limited $TIGR

Y Intercept Hong Kong Ltd lowered its stake in UP Fintech Holding Limited (NASDAQ:TIGR) by 60.3% in the third quarter, Holdings Channel reports. The fund owned 216,940 shares of the company’s stock after selling 329,539 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in UP Fintech were worth $2,315,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of UP Fintech by 22.7% in the 2nd quarter. GAMMA Investing LLC now owns 13,168 shares of the company’s stock valued at $127,000 after acquiring an additional 2,440 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in UP Fintech in the 2nd quarter worth about $173,000. Bingham Private Wealth LLC raised its position in UP Fintech by 21.1% in the second quarter. Bingham Private Wealth LLC now owns 12,752 shares of the company’s stock valued at $123,000 after purchasing an additional 2,219 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of UP Fintech by 14.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,517 shares of the company’s stock valued at $130,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Commons Capital LLC bought a new stake in shares of UP Fintech during the second quarter worth about $222,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TIGR. Citigroup boosted their target price on shares of UP Fintech to $17.50 and gave the stock a “buy” rating in a report on Friday, December 5th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $4.73 target price on shares of UP Fintech in a research report on Friday, December 5th. UBS Group started coverage on UP Fintech in a report on Thursday, October 23rd. They issued a “buy” rating and a $13.10 target price on the stock. Wall Street Zen downgraded shares of UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.83.

UP Fintech Trading Down 0.5%

TIGR opened at $8.77 on Thursday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.27 and a beta of 0.29. The company’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $10.06. UP Fintech Holding Limited has a 1-year low of $6.38 and a 1-year high of $13.55.

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

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.