Quantbot Technologies LP Purchases Shares of 9,318 Futu Holdings Limited (NASDAQ:FUTU)

Quantbot Technologies LP acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,318 shares of the company’s stock, valued at approximately $891,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP raised its position in Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock worth $99,813,000 after acquiring an additional 634,369 shares during the period. E Fund Management Co. Ltd. bought a new position in Futu in the 2nd quarter worth $31,490,000. Veritas Asset Management LLP purchased a new position in Futu during the third quarter valued at $39,547,000. Yong Rong HK Asset Management Ltd grew its holdings in 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 period. Finally, National Bank of Canada FI increased its position in 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 worth $18,790,000 after buying an additional 292,800 shares in the last quarter.

Futu Price Performance

FUTU stock opened at $87.23 on Monday. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The business has a 50 day simple moving average of $95.24 and a two-hundred day simple moving average of $76.19. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.89 and a beta of 0.75.

Futu Announces Dividend

The business also recently announced 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 Analyst Weigh In

A number of research analysts have recently weighed in on FUTU shares. Bank of America lifted their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.