Y Intercept Hong Kong Ltd Boosts Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Y Intercept Hong Kong Ltd raised its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 136.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,149 shares of the company's stock after acquiring an additional 24,355 shares during the period. Y Intercept Hong Kong Ltd's holdings in Futu were worth $4,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FUTU. APG Asset Management N.V. acquired a new stake in shares of Futu during the second quarter worth $496,000. Valliance Asset Management Ltd purchased a new position in Futu during the 3rd quarter worth $956,000. Sei Investments Co. lifted its stake in shares of Futu by 261.3% in the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock worth $1,663,000 after acquiring an additional 18,334 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Futu in the second quarter valued at about $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. increased 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 acquiring an additional 15,127 shares during the period.

Futu Trading Up 17.8 %

Shares of FUTU stock traded up $14.81 during mid-day trading on Monday, reaching $98.08. The stock had a trading volume of 9,698,918 shares, compared to its average volume of 2,367,026. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The business has a 50-day simple moving average of $96.14 and a 200 day simple moving average of $76.47. The company has a market cap of $13.51 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 0.85 and a beta of 0.72.

Futu Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Analyst Upgrades and Downgrades

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

Futu 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.