Townsquare Capital LLC Takes Position in Futu Holdings Limited (NASDAQ:FUTU)

Townsquare Capital LLC bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,490 shares of the company’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Futu during the fourth quarter worth $116,315,000. Geode Capital Management LLC raised its holdings in Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock worth $44,890,000 after buying an additional 21,686 shares during the period. Norges Bank purchased a new stake in Futu during the fourth quarter valued at about $39,163,000. SG Americas Securities LLC boosted its holdings in shares of Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock worth $29,932,000 after buying an additional 263,040 shares during the period. Finally, Candriam S.C.A. purchased a new position in shares of Futu in the fourth quarter worth approximately $28,004,000.

Analyst Ratings Changes

Several brokerages recently commented on FUTU. JPMorgan Chase & Co. upped their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. UBS Group increased their target price on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Futu Stock Down 1.1 %

FUTU stock opened at $79.65 on Monday. The company has a 50 day moving average of $103.46 and a two-hundred day moving average of $95.61. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88.

Futu Profile

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.