Greenwich Wealth Management LLC Has $83.34 Million Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Greenwich Wealth Management LLC lifted its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 68.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 507,500 shares of the company’s stock after buying an additional 206,000 shares during the period. Futu comprises approximately 3.7% of Greenwich Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. Greenwich Wealth Management LLC’s holdings in Futu were worth $83,337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dynasty Wealth Management LLC lifted its holdings in shares of Futu by 2.9% during the 4th quarter. Dynasty Wealth Management LLC now owns 3,362 shares of the company’s stock worth $552,000 after acquiring an additional 96 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Futu by 28.2% during the 4th quarter. BNP Paribas Financial Markets now owns 348,465 shares of the company’s stock worth $57,221,000 after acquiring an additional 76,670 shares during the period. AdvisorShares Investments LLC lifted its holdings in shares of Futu by 2.9% during the 4th quarter. AdvisorShares Investments LLC now owns 7,030 shares of the company’s stock worth $1,154,000 after acquiring an additional 200 shares during the period. Norges Bank bought a new stake in shares of Futu during the 4th quarter worth approximately $21,508,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Futu in the 4th quarter valued at approximately $2,499,000.

Analysts Set New Price Targets

Several equities analysts recently commented on FUTU shares. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. Zacks Research downgraded shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Futu from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays dropped their price objective on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Finally, The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price objective for the company. in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

Futu Stock Down 0.9%

NASDAQ FUTU opened at $101.97 on Wednesday. The company has a market capitalization of $14.29 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.01 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 has a fifty day simple moving average of $140.57 and a 200 day simple moving average of $154.55.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The company had revenue of $694.17 million during the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Research analysts expect that Futu Holdings Limited Sponsored ADR will post 10.68 earnings per share for the current fiscal year.

Futu Announces Dividend

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

Futu Company Profile

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.