GAM Holding AG Buys Shares of 6,000 Futu Holdings Limited (NASDAQ:FUTU)

GAM Holding AG purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,000 shares of the company’s stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its position 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 during the last quarter. GAMMA Investing LLC increased its stake in Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after purchasing an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 buying an additional 112 shares during the period. Venturi Wealth Management LLC acquired a new stake in Futu in the 3rd quarter worth about $92,000. Finally, Janus Henderson Group PLC acquired a new stake in Futu in the 3rd quarter worth about $201,000.

Futu Price Performance

Futu stock opened at $123.56 on Wednesday. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a 12 month low of $49.17 and a 12 month high of $130.50. The stock’s 50-day moving average is $90.93 and its 200-day moving average is $84.77.

Futu Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on FUTU. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average price target of $91.40.

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.