Matthews International Capital Management LLC Buys 25,257 Shares of Futu Holdings Limited Sponsored ADR $FUTU

Matthews International Capital Management LLC grew its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 111.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,988 shares of the company’s stock after acquiring an additional 25,257 shares during the period. Futu makes up approximately 1.9% of Matthews International Capital Management LLC’s portfolio, making the stock its 17th biggest position. Matthews International Capital Management LLC’s holdings in Futu were worth $8,346,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FUTU. Swedbank AB grew its position in shares of Futu by 729.5% in the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock valued at $6,254,000 after buying an additional 44,500 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Futu by 29.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,264 shares of the company’s stock valued at $2,499,000 after acquiring an additional 4,650 shares during the last quarter. Inspire Investing LLC acquired a new stake in Futu during the 1st quarter valued at approximately $730,000. Zurich Insurance Group Ltd FI acquired a new stake in Futu during the 1st quarter valued at approximately $16,112,000. Finally, ARK Investment Management LLC raised its holdings in Futu by 5.2% during the 2nd quarter. ARK Investment Management LLC now owns 130,439 shares of the company’s stock worth $16,121,000 after purchasing an additional 6,480 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FUTU shares. Barclays upped their price objective on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Finally, Dbs Bank raised Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Futu presently has an average rating of “Buy” and a consensus price target of $203.67.

Futu Trading Up 0.3%

NASDAQ FUTU opened at $165.19 on Friday. The company has a market cap of $22.98 billion, a P/E ratio of 18.50, a PEG ratio of 0.54 and a beta of 0.19. The company has a fifty day simple moving average of $173.25 and a 200 day simple moving average of $163.82. Futu Holdings Limited Sponsored ADR has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.39. The firm had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Futu had a net margin of 47.11% and a return on equity of 30.59%. Sell-side analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.