Quantbot Technologies LP Invests $891,000 in Futu Holdings Limited (NASDAQ:FUTU)

Quantbot Technologies LP acquired a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,318 shares of the company's stock, valued at approximately $891,000.

A number of other large investors have also recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in Futu by 71.5% in the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock worth $99,813,000 after buying an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Futu in the second quarter worth about $31,490,000. Veritas Asset Management LLP bought a new stake in Futu in the third quarter worth $39,547,000. Yong Rong HK Asset Management Ltd boosted its stake in shares of Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock worth $37,667,000 after purchasing an additional 378,800 shares during the period. Finally, National Bank of Canada FI grew its holdings in Futu by 3,253,333.3% during the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company's stock valued at $18,790,000 after purchasing an additional 292,800 shares during the last quarter.

Analyst Ratings Changes

FUTU has been the topic of several research analyst reports. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and upped their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Bank of America lifted their price objective on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $87.33.

Futu Stock Down 2.2 %

Shares of Futu stock traded down $1.91 on Monday, reaching $85.32. The stock had a trading volume of 1,483,118 shares, compared to its average volume of 2,348,444. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The company has a 50 day moving average price of $95.24 and a 200 day moving average price of $76.19. The stock has a market capitalization of $11.76 billion, a P/E ratio of 20.94, a P/E/G ratio of 0.89 and a beta of 0.75.

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 paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

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.