Hsbc Holdings PLC Trims Stock Position in Futu Holdings Limited Sponsored ADR $FUTU

Hsbc Holdings PLC reduced its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 46.4% during the fourth quarter, Holdings Channel reports. The firm owned 310,032 shares of the company’s stock after selling 268,211 shares during the quarter. Hsbc Holdings PLC’s holdings in Futu were worth $50,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after purchasing an additional 1,002,171 shares in the last quarter. Aspex Management HK Ltd increased its position in shares of Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock valued at $553,650,000 after buying an additional 919,724 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Futu by 25,558,100.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 511,164 shares of the company’s stock worth $83,938,000 after buying an additional 511,162 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new position in Futu in the third quarter worth about $64,250,000. Finally, Moore Capital Management LP purchased a new stake in Futu in the third quarter worth about $53,411,000.

Futu Stock Performance

Shares of FUTU opened at $97.90 on Wednesday. The stock has a market cap of $13.72 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a fifty-two week low of $80.50 and a fifty-two week high of $202.53. The firm’s 50-day simple moving average is $126.06 and its two-hundred day simple moving average is $146.33.

Futu (NASDAQ:FUTU) last announced its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). Futu had a net margin of 41.87% and a return on equity of 26.48%. The business had revenue of $694.17 million for the quarter, compared to the consensus estimate of $761.35 million. Equities research analysts predict that Futu Holdings Limited Sponsored ADR will post 8.95 EPS for the current year.

Futu Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s dividend payout ratio (DPR) is 28.05%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Zacks Research cut Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Barclays lowered their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research note on Monday, May 25th. Finally, Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

About Futu

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.