MY.Alpha Management HK Advisors Ltd Buys 80,799 Shares of Futu Holdings Limited Sponsored ADR $FUTU

MY.Alpha Management HK Advisors Ltd lifted its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 47.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,369 shares of the company’s stock after purchasing an additional 80,799 shares during the quarter. Futu comprises 22.0% of MY.Alpha Management HK Advisors Ltd’s investment portfolio, making the stock its biggest holding. MY.Alpha Management HK Advisors Ltd owned about 0.18% of Futu worth $40,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Aspex Management HK Ltd increased its position in Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock valued at $553,650,000 after buying an additional 919,724 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Futu by 7.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock worth $288,720,000 after acquiring an additional 116,143 shares in the last quarter. State Street Corp grew its stake in Futu by 18.4% in the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock valued at $149,851,000 after acquiring an additional 188,840 shares during the period. Greenwoods Asset Management Hong Kong Ltd. grew its stake in Futu by 14.0% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock valued at $186,513,000 after acquiring an additional 139,473 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Futu by 805.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after acquiring an additional 1,002,171 shares in the last quarter.

Futu Price Performance

FUTU stock opened at $96.64 on Friday. The firm has a market capitalization of $13.55 billion, a PE ratio of 10.63, a P/E/G ratio of 1.13 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The stock’s 50 day moving average is $128.30 and its 200-day moving average is $147.48.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). The company had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. On average, equities research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were paid a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio is presently 28.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FUTU. Wall Street Zen lowered Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research downgraded shares of Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. restated 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. The Goldman Sachs Group downgraded shares of 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.80.

About Futu

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.