American International Group Inc. lessened its position in shares of Futu Holdings Limited (NASDAQ:FUTU – Free Report) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,922 shares of the company’s stock after selling 682 shares during the period. American International Group Inc.’s holdings in Futu were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its position in Futu by 91.9% in the second quarter. Barclays PLC now owns 331,630 shares of the company’s stock valued at $13,178,000 after purchasing an additional 158,806 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Futu by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 108,634 shares of the company’s stock worth $4,317,000 after acquiring an additional 885 shares during the period. AustralianSuper Pty Ltd grew its holdings in Futu by 2,138.4% during the 2nd quarter. AustralianSuper Pty Ltd now owns 173,006 shares of the company’s stock worth $6,875,000 after acquiring an additional 165,277 shares during the period. Baillie Gifford & Co. raised its position in shares of Futu by 3.0% in the 2nd quarter. Baillie Gifford & Co. now owns 1,113,861 shares of the company’s stock worth $44,265,000 after acquiring an additional 32,843 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Futu by 5.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,007 shares of the company’s stock worth $398,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 20.75% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on FUTU. Bank of America raised Futu from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $32.15 to $62.80 in a research report on Monday, August 28th. Citigroup lifted their price objective on Futu from $62.90 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Futu has an average rating of “Hold” and an average price target of $50.47.
Futu Trading Up 0.1 %
FUTU opened at $59.57 on Friday. Futu Holdings Limited has a 1-year low of $35.91 and a 1-year high of $72.20. The company has a market cap of $8.96 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.84 and a beta of 0.88. The company has a fifty day moving average price of $58.77 and a two-hundred day moving average price of $50.73.
Futu (NASDAQ:FUTU – Get Free Report) last posted its quarterly earnings results on Thursday, August 24th. The company reported $1.02 earnings per share for the quarter. The firm had revenue of $317.10 million during the quarter. Futu had a net margin of 43.70% and a return on equity of 18.79%. On average, research analysts forecast that Futu Holdings Limited will post 4.33 EPS for the current fiscal year.
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.
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