Marex Group plc Makes New $1.55 Million Investment in Futu Holdings Limited Sponsored ADR $FUTU

Marex Group plc purchased a new stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 12,541 shares of the company’s stock, valued at approximately $1,550,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in Futu in the first quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Futu during the 2nd quarter worth approximately $28,000. Hantz Financial Services Inc. lifted its holdings in shares of Futu by 4,116.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in Futu during the 2nd quarter valued at approximately $35,000. Finally, SVB Wealth LLC bought a new position in Futu during the 1st quarter worth $40,000.

Futu Price Performance

Shares of FUTU opened at $171.45 on Monday. The firm’s 50 day moving average is $173.46 and its 200-day moving average is $160.20. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53. The stock has a market capitalization of $23.86 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.56 and a beta of 0.19.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.54 by $0.39. The business had revenue of $822.80 million during the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Citigroup boosted their price objective on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Bank of America raised their target price on Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Finally, Barclays lifted their target price on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $203.67.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.