39,403 Shares in Futu Holdings Limited Sponsored ADR $FUTU Acquired by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. acquired a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 39,403 shares of the company’s stock, valued at approximately $6,470,000.

Several other institutional investors have also recently modified their holdings of FUTU. Royal Bank of Canada raised its holdings in Futu by 3.1% in the 4th quarter. Royal Bank of Canada now owns 3,591 shares of the company’s stock valued at $590,000 after acquiring an additional 108 shares during the last quarter. Taikang Asset Management Hong Kong Co Ltd acquired a new position in Futu in the 4th quarter valued at $29,986,000. Polar Capital Holdings Plc acquired a new position in Futu in the 4th quarter valued at $5,518,000. Munro Partners acquired a new position in Futu in the 4th quarter valued at $6,429,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Futu in the 4th quarter valued at $5,915,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FUTU. Zacks Research downgraded Futu from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. 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. The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a report on Monday, May 25th. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $170.50 price target on shares of Futu in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $162.80.

Futu Stock Down 4.1%

FUTU stock opened at $96.01 on Wednesday. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.17 and a beta of 0.40. The business has a fifty day simple moving average of $131.29 and a 200-day simple moving average of $148.86. Futu Holdings Limited Sponsored ADR has a 52 week low of $80.50 and a 52 week high of $202.53.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The firm had revenue of $694.17 million for the quarter, compared to analyst estimates of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. As a group, analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Dividend Announcement

The company 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 dividend payout ratio is presently 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.