GSA Capital Partners LLP Sells 44,000 Shares of Futu Holdings Limited (NASDAQ:FUTU)

GSA Capital Partners LLP lowered its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 85.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,237 shares of the company’s stock after selling 44,000 shares during the quarter. GSA Capital Partners LLP’s holdings in Futu were worth $692,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Marshall Wace LLP lifted 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 buying an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Futu during the second quarter worth approximately $31,490,000. Veritas Asset Management LLP acquired a new position in shares of Futu during the third quarter worth approximately $39,547,000. Yong Rong HK Asset Management Ltd grew its stake in shares of Futu by 2,525.3% during the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock valued at $37,667,000 after purchasing an additional 378,800 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares in the last quarter.

Futu Stock Performance

FUTU opened at $89.08 on Monday. The company has a fifty day moving average price of $90.00 and a two-hundred day moving average price of $75.15. The firm has a market capitalization of $12.27 billion, a PE ratio of 23.02, a P/E/G ratio of 0.93 and a beta of 0.75. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The business had revenue of $400.73 million during the quarter. Equities analysts forecast that Futu Holdings Limited will post 4.75 EPS for the current year.

Analyst Ratings Changes

Separately, Bank of America upped their price objective on Futu from $80.20 to $90.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.