Fullerton Fund Management Co Ltd. Acquires Shares of 39,403 Futu Holdings Limited Sponsored ADR $FUTU

Fullerton Fund Management Co Ltd. acquired a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 39,403 shares of the company’s stock, valued at approximately $6,470,000.

Other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Futu in the 1st quarter valued at approximately $27,000. Quarry LP purchased a new stake in Futu in the 3rd quarter valued at approximately $51,000. Hilton Head Capital Partners LLC purchased a new stake in Futu in the 4th quarter valued at approximately $49,000. Parkside Financial Bank & Trust boosted its holdings in Futu by 30,000.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after purchasing an additional 300 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Futu by 53.2% in the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock valued at $54,000 after purchasing an additional 115 shares in the last quarter.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $96.01 on Wednesday. The business’s 50 day simple moving average is $131.29 and its 200-day simple moving average is $148.86. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.17 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 announced its quarterly earnings results on Thursday, May 28th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The firm had revenue of $694.17 million for the quarter, compared to analysts’ expectations of $761.35 million. On average, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s payout ratio is currently 28.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on FUTU. The Goldman Sachs Group lowered Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective on the stock. in a report on Monday, May 25th. Barclays decreased their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Futu has a consensus rating of “Moderate Buy” and an average target price of $162.80.

Futu Company 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.