SG Americas Securities LLC Increases Stake in Futu Holdings Limited (NASDAQ:FUTU)

SG Americas Securities LLC lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 236.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 374,193 shares of the company's stock after buying an additional 263,040 shares during the quarter. SG Americas Securities LLC owned approximately 0.27% of Futu worth $29,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FUTU. APG Asset Management N.V. acquired a new position in Futu during the 2nd quarter worth approximately $496,000. Valliance Asset Management Ltd purchased a new stake in shares of Futu during the 3rd quarter worth $956,000. Sei Investments Co. lifted its position in shares of Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock worth $1,663,000 after purchasing an additional 18,334 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after purchasing an additional 15,127 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Futu by 136.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock valued at $4,032,000 after buying an additional 24,355 shares during the last quarter.

Futu Trading Up 3.6 %

Shares of Futu stock traded up $3.18 on Thursday, hitting $92.44. The stock had a trading volume of 1,918,682 shares, compared to its average volume of 2,305,652. The company's 50 day moving average price is $84.47 and its 200 day moving average price is $79.23. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.72 and a beta of 0.75. Futu Holdings Limited has a 52-week low of $45.15 and a 52-week high of $130.50.

Futu Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a $2.00 dividend. The ex-dividend date was Friday, December 6th.

Wall Street Analysts Forecast Growth

FUTU has been the subject of a number of recent analyst reports. Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Citigroup cut Futu from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Futu currently has an average rating of "Moderate Buy" and an average target price of $91.40.

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.