Contrarius Group Holdings Ltd Buys New Position in UP Fintech Holding Limited (NASDAQ:TIGR)

Contrarius Group Holdings Ltd acquired a new stake in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,254,594 shares of the company's stock, valued at approximately $8,105,000. Contrarius Group Holdings Ltd owned 0.68% of UP Fintech as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of UP Fintech during the 4th quarter worth approximately $159,000. Personal CFO Solutions LLC purchased a new position in UP Fintech in the fourth quarter worth $201,000. Atria Investments Inc acquired a new stake in UP Fintech in the fourth quarter valued at $321,000. SBI Securities Co. Ltd. acquired a new stake in UP Fintech in the fourth quarter valued at $34,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of UP Fintech during the 4th quarter worth $194,000. Hedge funds and other institutional investors own 9.03% of the company's stock.

UP Fintech Price Performance

Shares of UP Fintech stock traded down $0.03 on Monday, hitting $8.83. The company's stock had a trading volume of 5,915,244 shares, compared to its average volume of 6,403,518. The company has a market capitalization of $1.63 billion, a P/E ratio of 44.15 and a beta of 0.87. UP Fintech Holding Limited has a 52-week low of $3.10 and a 52-week high of $14.48. The firm has a fifty day moving average price of $7.51 and a 200-day moving average price of $6.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30.

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UP Fintech (NASDAQ:TIGR - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. UP Fintech had a net margin of 9.14% and a return on equity of 6.09%. The company had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TIGR shares. Bank of America initiated coverage on shares of UP Fintech in a report on Monday, March 17th. They issued a "buy" rating for the company. Citigroup raised shares of 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, March 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on UP Fintech in a research note on Thursday, January 2nd. They set a "buy" rating and a $9.40 price target on the stock.

About UP Fintech

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.