Taikang Asset Management Hong Kong Co Ltd Buys Shares of 182,605 Futu Holdings Limited Sponsored ADR $FUTU

Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 182,605 shares of the company’s stock, valued at approximately $29,986,000. Futu makes up approximately 3.0% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its 9th biggest holding. Taikang Asset Management Hong Kong Co Ltd owned about 0.13% of Futu at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Futu during the 1st quarter valued at approximately $27,000. Quarry LP purchased a new stake in shares of Futu during the 3rd quarter valued at approximately $51,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Futu during the 4th quarter valued at approximately $49,000. Parkside Financial Bank & Trust lifted its stake in shares of Futu by 30,000.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after buying an additional 300 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Futu by 53.2% during the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock valued at $54,000 after buying an additional 115 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on FUTU. Wall Street Zen cut shares of Futu from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Zacks Research cut shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Jefferies Financial Group restated a “buy” rating and set a $170.50 price target on shares of Futu in a research note on Thursday, May 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Finally, Barclays decreased their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Futu Trading Down 4.1%

Futu stock opened at $96.01 on Wednesday. The firm’s 50 day simple moving average is $131.29 and its 200 day simple moving average is $148.86. The firm has a market capitalization of $13.46 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a 1-year low of $80.50 and a 1-year high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results 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 firm had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. Research analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Dividend Announcement

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

About Futu

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.