Matthews International Capital Management LLC Grows Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Matthews International Capital Management LLC boosted its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU – Free Report) by 214.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,906 shares of the company’s stock after purchasing an additional 102,918 shares during the period. Futu makes up approximately 7.5% of Matthews International Capital Management LLC’s holdings, making the stock its 2nd biggest position. Matthews International Capital Management LLC owned about 0.11% of Futu worth $24,780,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FUTU. Cooper Investors PTY Ltd. bought a new position in shares of Futu in the third quarter valued at $29,000. TD Private Client Wealth LLC boosted its stake in shares of Futu by 6,075.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after acquiring an additional 243 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Futu during the 1st quarter worth $27,000. Quarry LP acquired a new position in shares of Futu in the 3rd quarter worth $51,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Futu by 53.2% in the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock worth $54,000 after acquiring an additional 115 shares during the last quarter.

Futu Price Performance

Shares of FUTU opened at $140.16 on Friday. The business’s 50-day moving average is $148.41 and its 200-day moving average is $163.94. The company has a market capitalization of $19.50 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.80 and a beta of 0.42. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $70.60 and a fifty-two week high of $202.53.

Futu (NASDAQ:FUTU – Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The business had revenue of $827.15 million during the quarter, compared to analysts’ expectations of $788.73 million. Equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FUTU has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Barclays dropped their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Finally, The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $210.57.

Check Out Our Latest Analysis on FUTU

About Futu

(Free Report)

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.

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