Contrarius Group Holdings Ltd Makes New Investment in UP Fintech Holding Limited (NASDAQ:TIGR)

Contrarius Group Holdings Ltd purchased a new position in shares of UP Fintech Holding Limited (NASDAQ:TIGR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,254,594 shares of the company’s stock, valued at approximately $8,105,000.

A number of other hedge funds also recently bought and sold shares of TIGR. SBI Securities Co. Ltd. purchased a new position in UP Fintech during the fourth quarter worth approximately $34,000. GAMMA Investing LLC raised its holdings in shares of UP Fintech by 51.5% during the fourth quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock valued at $59,000 after acquiring an additional 3,105 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of UP Fintech during the fourth quarter valued at approximately $91,000. Alliance Wealth Advisors LLC UT acquired a new position in shares of UP Fintech during the fourth quarter valued at approximately $92,000. Finally, Truist Financial Corp acquired a new position in shares of UP Fintech during the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

UP Fintech Price Performance

NASDAQ:TIGR opened at $9.66 on Thursday. UP Fintech Holding Limited has a one year low of $3.10 and a one year high of $14.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $1.78 billion, a PE ratio of 48.30 and a beta of 0.87. The stock has a 50 day moving average price of $7.33 and a 200 day moving average price of $6.57.

UP Fintech (NASDAQ:TIGR) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The firm had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $73.60 million.

Analyst Upgrades and Downgrades

TIGR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company. Bank of America initiated coverage on UP Fintech in a report on Monday. They set a “buy” rating for the company. Finally, Citigroup raised UP Fintech from a “sell” rating to a “neutral” rating and increased their target price for the company from $5.80 to $9.50 in a report on Wednesday.

UP Fintech Profile

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.