Yorktown Management & Research Co Inc Invests $280,000 in Futu Holdings Limited (NASDAQ:FUTU)

Yorktown Management & Research Co Inc acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,500 shares of the company's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock valued at $84,000 after buying an additional 112 shares in the last quarter. GAMMA Investing LLC boosted its stake in Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after purchasing an additional 184 shares during the period. CIBC Asset Management Inc grew its position in Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock worth $517,000 after purchasing an additional 222 shares in the last quarter. CWM LLC raised its stake in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after purchasing an additional 300 shares during the period. Finally, Lifestyle Asset Management Inc. lifted its holdings in shares of Futu by 6.1% in the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company's stock valued at $514,000 after purchasing an additional 307 shares in the last quarter.

Futu Price Performance

Shares of FUTU stock traded up $8.48 on Friday, hitting $105.64. The company's stock had a trading volume of 5,039,692 shares, compared to its average volume of 2,282,041. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a fifty-two week low of $47.18 and a fifty-two week high of $130.50. The firm's fifty day moving average price is $86.94 and its 200-day moving average price is $81.73.

Futu Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FUTU shares. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered shares of Futu from a "buy" rating to a "neutral" rating and increased their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

About Futu

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.