Futu Holdings Limited (NASDAQ:FUTU) Stock Holdings Boosted by Hhlr Advisors LTD.

Hhlr Advisors LTD. raised its position in Futu Holdings Limited (NASDAQ:FUTU) by 46.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,051,089 shares of the company’s stock after purchasing an additional 335,000 shares during the quarter. Futu accounts for approximately 2.2% of Hhlr Advisors LTD.’s investment portfolio, making the stock its 10th largest position. Hhlr Advisors LTD.’s holdings in Futu were worth $100,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FUTU. Marshall Wace LLP increased its position in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after buying an additional 634,369 shares during the period. E Fund Management Co. Ltd. purchased a new position in shares of Futu during the second quarter valued at about $31,490,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 buying an additional 465,961 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Futu during the third quarter valued at about $39,943,000. Finally, Veritas Asset Management LLP purchased a new position in shares of Futu during the third quarter valued at about $39,547,000.

Futu Stock Performance

Shares of FUTU opened at $87.23 on Friday. The stock has a market cap of $12.02 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50. The firm’s 50-day simple moving average is $95.24 and its two-hundred day simple moving average is $76.16.

Futu Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, December 6th.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and boosted their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Bank of America boosted their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

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.