Myriad Asset Management US LP Has $1.43 Million Stake in Futu Holdings Limited Sponsored ADR $FUTU

Myriad Asset Management US LP reduced its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 53.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,231 shares of the company’s stock after selling 9,507 shares during the quarter. Futu makes up 0.8% of Myriad Asset Management US LP’s portfolio, making the stock its 27th largest holding. Myriad Asset Management US LP’s holdings in Futu were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FUTU. Geneos Wealth Management Inc. bought a new stake in Futu in the first quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Futu in the 2nd quarter valued at $28,000. Cooper Investors PTY Ltd. bought a new stake in shares of Futu in the 3rd quarter worth about $29,000. Hantz Financial Services Inc. grew its holdings in shares of Futu by 4,116.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 247 shares during the last quarter. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Futu during the 2nd quarter worth about $35,000.

Futu Price Performance

Shares of Futu stock opened at $162.00 on Friday. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 0.43 and a beta of 0.20. The business has a fifty day simple moving average of $169.70 and a two-hundred day simple moving average of $170.66. Futu Holdings Limited Sponsored ADR has a 1 year low of $70.60 and a 1 year high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The company had revenue of $822.80 million during the quarter, compared to the consensus estimate of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, equities analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FUTU shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Barclays raised their price target on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $203.67.

Futu 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.