Quantbot Technologies LP Makes New $891,000 Investment in Futu Holdings Limited (NASDAQ:FUTU)

Quantbot Technologies LP bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,318 shares of the company’s stock, valued at approximately $891,000.

Several other institutional investors have also recently made changes to their positions in FUTU. Allspring Global Investments Holdings LLC purchased a new stake in Futu in the second quarter worth $50,000. GAMMA Investing LLC grew its position in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after buying an additional 383 shares during the period. CWM LLC grew its position in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Futu in the 3rd quarter worth about $92,000. Finally, SG Americas Securities LLC bought a new stake in Futu during the second quarter worth about $123,000.

Futu Trading Up 1.0 %

Shares of FUTU opened at $87.23 on Monday. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 0.89 and a beta of 0.75. The business’s fifty day simple moving average is $95.24 and its two-hundred day simple moving average is $76.19. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50.

Futu Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FUTU. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Citigroup lowered Futu from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

About Futu

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.