MBB Public Markets I LLC Makes New $276,000 Investment in Futu Holdings Limited (NASDAQ:FUTU)

MBB Public Markets I LLC purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,200 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Marshall Wace LLP grew its position in Futu by 71.5% during the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock worth $99,813,000 after purchasing an additional 634,369 shares during the last quarter. Prudential PLC grew its holdings in shares of Futu by 23.2% during the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after buying an additional 112,497 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Futu in the 2nd quarter valued at $31,490,000. HCEP Management Ltd raised its stake in Futu by 37.7% in the 4th quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock worth $21,852,000 after acquiring an additional 109,499 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Futu by 3,253,333.3% during the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after acquiring an additional 292,800 shares during the period.

Futu Stock Up 4.9 %

Shares of FUTU opened at $112.85 on Thursday. The company has a market capitalization of $15.55 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.04 and a beta of 0.74. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $127.33. The stock’s 50-day moving average price is $64.76 and its 200-day moving average price is $65.59.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. As a group, equities analysts anticipate that Futu Holdings Limited will post 4.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America increased their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.97.

Futu Company 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.