Franchise GP Ltd Buys 36,520 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Franchise GP Ltd bought a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the third quarter, HoldingsChannel reports. The firm bought 36,520 shares of the company’s stock, valued at approximately $4,037,000. Futu makes up approximately 1.7% of Franchise GP Ltd’s investment portfolio, making the stock its 18th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in FUTU. V Square Quantitative Management LLC acquired a new position in Futu during the first quarter worth $25,000. Rockefeller Capital Management L.P. boosted its stake in Futu by 59.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Futu by 58.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company’s stock worth $165,000 after purchasing an additional 443 shares during the last quarter. SkyOak Wealth LLC bought a new stake in Futu in the second quarter valued at about $207,000. Finally, State of Wyoming increased its holdings in Futu by 21.4% in the first quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $209,000 after purchasing an additional 270 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FUTU shares. Wall Street Zen upgraded Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded shares of Futu from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Zacks Research raised shares of Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.91.

Futu Stock Performance

Shares of FUTU opened at $109.80 on Friday. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53. The firm’s 50 day moving average price is $113.25 and its two-hundred day moving average price is $116.89. The firm has a market cap of $15.39 billion, a P/E ratio of 10.87, a PEG ratio of 1.09 and a beta of 0.45.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.35. Futu had a return on equity of 28.20% and a net margin of 42.95%. The company had revenue of $852.66 million for the quarter, compared to analyst estimates of $786.07 million. On average, sell-side analysts anticipate that Futu Holdings Limited Sponsored ADR will post 9.42 earnings per share for the current fiscal year.

Futu Profile

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools designed to help individual investors access securities markets, manage portfolios and obtain investment information.

Its principal platforms include Futubull and Moomoo, which offer services such as stock and exchange-traded fund trading, margin financing, market data, research, news, portfolio management and investor education.