GAMMA Investing LLC Has $62,000 Position in Futu Holdings Limited (NASDAQ:FUTU)

GAMMA Investing LLC increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 31.0% during the 4th quarter, Holdings Channel reports. The fund owned 778 shares of the company’s stock after buying an additional 184 shares during the quarter. GAMMA Investing LLC’s holdings in Futu were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. CWM LLC lifted its holdings in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after purchasing an additional 112 shares during the period. Venturi Wealth Management LLC bought a new stake in Futu in the 3rd quarter valued at $92,000. Janus Henderson Group PLC bought a new stake in Futu in the 3rd quarter valued at about $201,000. Finally, M&T Bank Corp acquired a new position in Futu in the 3rd quarter valued at $203,000.

Futu Stock Down 2.6 %

Shares of Futu stock opened at $75.41 on Monday. The company’s fifty day moving average is $86.72 and its 200 day moving average is $78.39. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 0.88 and a beta of 0.75.

Futu Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and increased their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Bank of America lifted their target price on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

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.