Contrarius Group Holdings Ltd Makes New $10.24 Million Investment in UP Fintech Holding Limited $TIGR

Contrarius Group Holdings Ltd bought a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,071,425 shares of the company’s stock, valued at approximately $10,243,000. UP Fintech makes up approximately 0.5% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 27th largest position. Contrarius Group Holdings Ltd owned about 0.58% of UP Fintech at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in UP Fintech by 2,580.9% in the 3rd quarter. Citigroup Inc. now owns 1,077,258 shares of the company’s stock valued at $11,494,000 after buying an additional 1,037,076 shares during the last quarter. SG Americas Securities LLC acquired a new stake in UP Fintech in the 4th quarter valued at approximately $5,219,000. William Blair Investment Management LLC acquired a new stake in UP Fintech in the 3rd quarter valued at approximately $3,792,000. Harvest Fund Management Co. Ltd acquired a new stake in UP Fintech in the 3rd quarter valued at approximately $3,198,000. Finally, Jupiter Asset Management Ltd. lifted its position in shares of UP Fintech by 157.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 4,216,229 shares of the company’s stock worth $40,307,000 after purchasing an additional 2,577,459 shares in the last quarter. Institutional investors own 9.03% of the company’s stock.

UP Fintech Stock Performance

TIGR opened at $4.48 on Monday. UP Fintech Holding Limited has a 12-month low of $4.00 and a 12-month high of $13.55. The stock has a market cap of $849.86 million, a price-to-earnings ratio of 7.47 and a beta of 0.46. The business has a 50 day moving average of $6.17 and a 200-day moving average of $7.69. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06.

UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Thursday, March 19th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. UP Fintech had a return on equity of 13.90% and a net margin of 17.64%.The company had revenue of $156.54 million during the quarter, compared to analysts’ expectations of $142.01 million.

Analyst Upgrades and Downgrades

TIGR has been the topic of a number of research reports. Citigroup cut their price objective on shares of UP Fintech to $7.10 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of UP Fintech from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America restated a “buy” rating on shares of UP Fintech in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, UP Fintech presently has an average rating of “Moderate Buy” and an average price target of $9.23.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.