Polymer Capital Management HK LTD Sells 8,784 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Polymer Capital Management HK LTD trimmed its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 57,226 shares of the company’s stock after selling 8,784 shares during the period. Futu makes up about 1.3% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 17th biggest position. Polymer Capital Management HK LTD’s holdings in Futu were worth $9,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Futu during the 1st quarter worth about $27,000. Quarry LP bought a new position in shares of Futu during the 3rd quarter worth about $51,000. Hilton Head Capital Partners LLC bought a new position in shares of Futu during the 4th quarter worth about $49,000. Farther Finance Advisors LLC lifted its holdings in shares of Futu by 53.2% during the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock worth $54,000 after acquiring an additional 115 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Futu during the fourth quarter worth $61,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FUTU shares. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. The Goldman Sachs Group lowered Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective for the company. in a research note on Monday, May 25th. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Barclays dropped their price objective on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Price Performance

Futu stock opened at $97.54 on Friday. The stock has a fifty day moving average price of $132.97 and a two-hundred day moving average price of $150.01. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The firm has a market capitalization of $13.67 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.12 and a beta of 0.40.

Futu (NASDAQ:FUTU) last announced its earnings results 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 analyst estimates of $761.35 million. On average, equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current fiscal year.

Futu Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio (DPR) 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.