Yorktown Management & Research Co Inc Invests $280,000 in Futu Holdings Limited (NASDAQ:FUTU)

Yorktown Management & Research Co Inc bought a new position in Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, HoldingsChannel reports. The fund bought 3,500 shares of the company’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Futu during the third quarter valued at approximately $39,943,000. Veritas Asset Management LLP bought a new position in Futu during the third quarter valued at approximately $39,547,000. Yong Rong HK Asset Management Ltd lifted its position 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, Hhlr Advisors LTD. lifted its position in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after purchasing an additional 335,000 shares during the period.

Futu Price Performance

Shares of NASDAQ FUTU opened at $98.72 on Wednesday. The firm has a fifty day moving average price of $85.90 and a 200-day moving average price of $80.97. The stock has a market cap of $13.60 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 0.76 and a beta of 0.76. Futu Holdings Limited has a 1 year low of $45.15 and a 1 year high of $130.50.

Futu Announces Dividend

The company also recently disclosed a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

Analysts Set New Price Targets

FUTU has been the topic of a number of research analyst reports. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Futu presently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.