Contrarius Group Holdings Ltd Purchases New Position in UP Fintech Holding Limited $TIGR

Contrarius Group Holdings Ltd purchased a new stake in UP Fintech Holding Limited (NASDAQ:TIGR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,071,425 shares of the company’s stock, valued at approximately $10,243,000. UP Fintech comprises 0.5% of Contrarius Group Holdings Ltd’s holdings, making the stock its 27th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of UP Fintech during the second quarter worth approximately $33,000. SBI Securities Co. Ltd. increased its stake in shares of UP Fintech by 21.2% during the third quarter. SBI Securities Co. Ltd. now owns 7,737 shares of the company’s stock worth $83,000 after purchasing an additional 1,355 shares during the period. Stonehaven Wealth & Tax Solutions LLC bought a new position in shares of UP Fintech during the fourth quarter worth approximately $100,000. Bingham Private Wealth LLC bought a new position in shares of UP Fintech during the fourth quarter worth approximately $121,000. Finally, Quarry LP bought a new position in shares of UP Fintech during the third quarter worth approximately $121,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

UP Fintech Stock Performance

Shares of NASDAQ:TIGR opened at $4.48 on Monday. The company has a market capitalization of $849.86 million, a P/E ratio of 7.47 and a beta of 0.46. UP Fintech Holding Limited has a 1 year low of $4.00 and a 1 year high of $13.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50 day simple moving average is $6.17 and its 200 day simple moving average is $7.69.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. UP Fintech had a return on equity of 13.90% and a net margin of 17.64%.The business had revenue of $156.54 million for the quarter, compared to the consensus estimate of $142.01 million.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America reissued a “buy” rating on shares of UP Fintech in a report on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of UP Fintech in a report on Monday, April 20th. Wall Street Zen downgraded UP Fintech from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Citigroup cut their price objective on shares of UP Fintech to $7.10 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.23.

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.