Y Intercept Hong Kong Ltd Grows Stake in UP Fintech Holding Limited $TIGR

Y Intercept Hong Kong Ltd raised its stake in UP Fintech Holding Limited (NASDAQ:TIGR) by 492.3% during the second quarter, HoldingsChannel reports. The fund owned 546,479 shares of the company’s stock after buying an additional 454,218 shares during the period. Y Intercept Hong Kong Ltd’s holdings in UP Fintech were worth $5,274,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TIGR. Sparta 24 Ltd. grew its stake in shares of UP Fintech by 71.2% in the second quarter. Sparta 24 Ltd. now owns 6,260,946 shares of the company’s stock worth $60,418,000 after acquiring an additional 2,603,842 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of UP Fintech in the first quarter worth $9,467,000. Millennium Management LLC grew its stake in shares of UP Fintech by 48.0% in the first quarter. Millennium Management LLC now owns 2,398,744 shares of the company’s stock worth $20,605,000 after acquiring an additional 777,776 shares during the last quarter. Eschler Asset Management LLP bought a new position in shares of UP Fintech during the first quarter valued at $1,031,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of UP Fintech by 818.7% during the first quarter. Acadian Asset Management LLC now owns 126,596 shares of the company’s stock valued at $1,085,000 after purchasing an additional 112,816 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.

UP Fintech Stock Performance

TIGR stock opened at $10.46 on Tuesday. UP Fintech Holding Limited has a fifty-two week low of $5.36 and a fifty-two week high of $13.55. The business’s 50-day moving average is $10.88 and its two-hundred day moving average is $9.69. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 0.67 and a beta of 0.55.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on UP Fintech in a report on Monday, September 29th. They set a “buy” rating and a $12.00 price target on the stock. Citigroup raised UP Fintech from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.50 to $14.00 in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UP Fintech in a report on Wednesday, October 8th. UBS Group assumed coverage on UP Fintech in a report on Thursday, October 23rd. They set a “buy” rating and a $13.10 price target on the stock. Finally, Wall Street Zen downgraded UP Fintech from a “buy” rating to a “hold” rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.13.

UP Fintech Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.