GAMMA Investing LLC Purchases 383 Shares of Futu Holdings Limited (NASDAQ:FUTU)

GAMMA Investing LLC increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 181.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 594 shares of the company’s stock after purchasing an additional 383 shares during the quarter. GAMMA Investing LLC’s holdings in Futu were worth $57,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FUTU. SG Americas Securities LLC increased its holdings in shares of Futu by 5,847.2% in the 3rd quarter. SG Americas Securities LLC now owns 111,153 shares of the company’s stock valued at $10,632,000 after acquiring an additional 109,284 shares during the period. Creative Planning increased its holdings in shares of Futu by 27.8% in the 2nd quarter. Creative Planning now owns 13,253 shares of the company’s stock valued at $869,000 after acquiring an additional 2,884 shares during the period. Scientech Research LLC purchased a new position in shares of Futu in the 2nd quarter valued at $220,000. MBB Public Markets I LLC purchased a new position in shares of Futu in the 2nd quarter valued at $276,000. Finally, APG Asset Management N.V. purchased a new position in shares of Futu in the 2nd quarter valued at $496,000.

Futu Price Performance

Shares of FUTU stock opened at $95.25 on Thursday. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The stock’s fifty day moving average price is $75.25 and its 200 day moving average price is $69.56. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The firm had revenue of $400.73 million for the quarter. As a group, equities research analysts anticipate that Futu Holdings Limited will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.97.

About Futu

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.