Futu Holdings Limited (NASDAQ:FUTU) Stake Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 31.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 778 shares of the company’s stock after buying an additional 184 shares during the quarter. GAMMA Investing LLC’s holdings in Futu were worth $62,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after purchasing an additional 112 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after acquiring an additional 222 shares in the last quarter. CWM LLC boosted its holdings in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the period. Lifestyle Asset Management Inc. grew its position in Futu by 6.1% during the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock valued at $514,000 after purchasing an additional 307 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in Futu by 3.7% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 11,360 shares of the company’s stock valued at $1,087,000 after buying an additional 410 shares during the period.

Futu Stock Down 2.6 %

Shares of NASDAQ:FUTU opened at $75.41 on Monday. The business has a 50 day moving average price of $86.72 and a 200 day moving average price of $78.39. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.88 and a beta of 0.75. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50.

Futu Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FUTU shares. Bank of America lifted their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and raised their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.40.

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.