Myriad Asset Management US LP Sells 6,930 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Myriad Asset Management US LP trimmed its position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 84.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,301 shares of the company’s stock after selling 6,930 shares during the period. Myriad Asset Management US LP’s holdings in Futu were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aberdeen Group plc increased its position in Futu by 19.1% in the fourth quarter. Aberdeen Group plc now owns 50,219 shares of the company’s stock worth $8,246,000 after purchasing an additional 8,044 shares during the last quarter. Burns Matteson Capital Management LLC grew its stake in shares of Futu by 11.4% in the 4th quarter. Burns Matteson Capital Management LLC now owns 1,755 shares of the company’s stock worth $288,000 after buying an additional 179 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Futu in the 4th quarter worth $115,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Futu by 77.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,284 shares of the company’s stock worth $1,657,000 after buying an additional 4,063 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its position in shares of Futu by 2.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 8,024 shares of the company’s stock valued at $1,318,000 after buying an additional 194 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FUTU. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a research note on Monday, February 2nd. Finally, Barclays decreased their price objective on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $210.57.

Futu Price Performance

FUTU stock opened at $140.16 on Friday. Futu Holdings Limited Sponsored ADR has a twelve month low of $70.60 and a twelve month high of $202.53. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 0.80 and a beta of 0.42. The firm’s fifty day simple moving average is $148.41 and its two-hundred day simple moving average is $163.94.

Futu (NASDAQ:FUTU) last released its earnings results on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $827.15 million during the quarter, compared to analyst estimates of $788.73 million. As a group, equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.