Central Asset Investments & Management Holdings HK Ltd Makes New $7.65 Million Investment in Futu Holdings Limited (NASDAQ:FUTU)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,000 shares of the company's stock, valued at approximately $7,652,000. Futu makes up approximately 7.6% of Central Asset Investments & Management Holdings HK Ltd's investment portfolio, making the stock its 3rd biggest holding. Central Asset Investments & Management Holdings HK Ltd owned approximately 0.06% of Futu at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company's stock worth $57,000 after buying an additional 383 shares during the last quarter. CWM LLC lifted its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Futu during the 2nd quarter worth about $50,000. UniSuper Management Pty Ltd lifted its position in shares of Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock worth $43,000 after purchasing an additional 400 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Futu during the 3rd quarter worth about $92,000.

Analyst Upgrades and Downgrades

Separately, Bank of America boosted their price objective on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.97.

Futu Stock Up 0.5 %

Futu stock traded up $0.40 during trading hours on Friday, hitting $89.08. The stock had a trading volume of 1,268,758 shares, compared to its average volume of 2,354,344. The company has a 50-day moving average of $90.00 and a two-hundred day moving average of $75.07. The company has a market cap of $12.27 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 0.94 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.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million for the quarter. As a group, analysts forecast that Futu Holdings Limited will post 4.75 EPS for the current fiscal year.

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.