GSA Capital Partners LLP Sells 44,000 Shares of Futu Holdings Limited (NASDAQ:FUTU)

GSA Capital Partners LLP trimmed its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 85.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,237 shares of the company’s stock after selling 44,000 shares during the period. GSA Capital Partners LLP’s holdings in Futu were worth $692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FUTU. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu in the second quarter worth $50,000. GAMMA Investing LLC increased its position in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after acquiring an additional 383 shares during the period. CWM LLC raised its stake in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Futu in the 3rd quarter valued at $92,000.

Analyst Upgrades and Downgrades

Separately, Bank of America upped their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.97.

Futu Price Performance

Shares of Futu stock opened at $89.08 on Monday. The company’s fifty day moving average price is $90.00 and its two-hundred day moving average price is $75.15. The firm has a market capitalization of $12.27 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 0.93 and a beta of 0.75. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $130.50.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. Analysts predict that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

About Futu

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.