Aubrey Capital Management Ltd Purchases New Stake in Futu Holdings Limited (NASDAQ:FUTU)

Aubrey Capital Management Ltd acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, Holdings Channel reports. The firm acquired 5,000 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds also recently added to or reduced their stakes in FUTU. Headlands Technologies LLC purchased a new position in Futu in the fourth quarter worth approximately $44,000. Advisors Preferred LLC purchased a new position in Futu in the fourth quarter worth approximately $53,000. Assetmark Inc. purchased a new position in Futu in the third quarter worth approximately $61,000. Compagnie Lombard Odier SCmA purchased a new position in Futu in the fourth quarter worth approximately $148,000. Finally, Signaturefd LLC grew its position in Futu by 12.2% in the third quarter. Signaturefd LLC now owns 2,615 shares of the company’s stock worth $151,000 after acquiring an additional 285 shares during the period.

Futu Stock Up 5.4 %

Shares of NASDAQ FUTU traded up $3.38 during mid-day trading on Friday, hitting $66.38. The company had a trading volume of 3,064,293 shares, compared to its average volume of 1,103,101. Futu Holdings Limited has a 1-year low of $35.91 and a 1-year high of $68.92. The business’s 50-day simple moving average is $56.21 and its 200 day simple moving average is $54.64.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.81 earnings per share (EPS) for the quarter. The business had revenue of $303.84 million for the quarter, compared to analysts’ expectations of $374.14 million. Futu had a return on equity of 18.46% and a net margin of 42.77%. As a group, equities analysts predict that Futu Holdings Limited will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FUTU has been the subject of several analyst reports. JPMorgan Chase & Co. lowered Futu from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $62.00 in a research report on Friday, March 15th. Citigroup lowered their price target on Futu from $76.90 to $75.30 and set a “buy” rating for the company in a research report on Friday, March 15th. UBS Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Friday, January 5th. Morgan Stanley upgraded Futu from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $40.00 to $50.00 in a research report on Thursday, January 4th. Finally, CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $65.00 in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Futu has an average rating of “Moderate Buy” and an average price target of $62.83.

Futu Company Profile

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.