Arrowstreet Capital Limited Partnership Has $31.34 Million Stock Position in UP Fintech Holding Limited $TIGR

Arrowstreet Capital Limited Partnership lifted its position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) by 282.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,247,099 shares of the company’s stock after purchasing an additional 2,397,261 shares during the period. Arrowstreet Capital Limited Partnership owned 1.76% of UP Fintech worth $31,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of UP Fintech by 205.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,094 shares of the company’s stock valued at $49,000 after buying an additional 3,427 shares during the period. First Horizon Advisors Inc. acquired a new stake in shares of UP Fintech during the 2nd quarter worth approximately $52,000. SBI Securities Co. Ltd. increased its stake in UP Fintech by 22.7% in the second quarter. SBI Securities Co. Ltd. now owns 6,382 shares of the company’s stock valued at $62,000 after acquiring an additional 1,179 shares during the last quarter. Fox Run Management L.L.C. bought a new position in UP Fintech in the second quarter valued at approximately $103,000. Finally, Ieq Capital LLC acquired a new position in UP Fintech during the first quarter valued at approximately $109,000. Institutional investors and hedge funds own 9.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TIGR. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $4.73 target price on shares of UP Fintech in a report on Friday. Citigroup raised their price objective on UP Fintech to $17.50 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen cut UP Fintech from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. UBS Group initiated coverage on shares of UP Fintech in a report on Thursday, October 23rd. They issued a “buy” rating and a $13.10 target price for the company. Finally, Jefferies Financial Group started coverage on UP Fintech in a research note on Monday, September 29th. They issued a “buy” rating and a $12.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.35.

UP Fintech Trading Up 2.6%

TIGR stock opened at $9.24 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.60 and a beta of 0.37. The stock has a 50-day moving average price of $9.73 and a 200-day moving average price of $9.95. UP Fintech Holding Limited has a 1-year low of $5.64 and a 1-year high of $13.55.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The firm had revenue of $175.16 million for the quarter, compared to analysts’ expectations of $132.76 million. UP Fintech had a return on equity of 21.90% and a net margin of 27.42%.During the same period in the prior year, the business earned $0.11 EPS.

About UP Fintech

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.