Clear Street Group Inc. Makes New Investment in Futu Holdings Limited Sponsored ADR $FUTU

Clear Street Group Inc. purchased a new position in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 27,587 shares of the company’s stock, valued at approximately $4,530,000.

A number of other large investors have also made changes to their positions in the business. Eschler Asset Management LLP acquired a new position in shares of Futu during the fourth quarter worth $1,806,000. Atlas Capital Advisors Inc. acquired a new position in shares of Futu during the fourth quarter worth $145,000. Parkside Financial Bank & Trust increased its position in shares of Futu by 30,000.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock worth $49,000 after purchasing an additional 300 shares in the last quarter. Stifel Financial Corp increased its position in shares of Futu by 6.7% during the fourth quarter. Stifel Financial Corp now owns 4,614 shares of the company’s stock worth $758,000 after purchasing an additional 288 shares in the last quarter. Finally, PCM Encore LLC acquired a new position in shares of Futu during the fourth quarter worth $604,000.

Futu Stock Up 2.1%

FUTU stock opened at $97.54 on Friday. The company’s 50-day simple moving average is $132.97 and its 200-day simple moving average is $150.01. Futu Holdings Limited Sponsored ADR has a 52-week low of $80.50 and a 52-week high of $202.53. The firm has a market cap of $13.67 billion, a P/E ratio of 10.73, a PEG ratio of 1.14 and a beta of 0.40.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The firm had revenue of $694.17 million for the quarter, compared to analysts’ expectations of $761.35 million. On average, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, April 29th. Stockholders of record on Thursday, April 16th were given a dividend of $2.60 per share. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is presently 28.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FUTU shares. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Barclays reduced their price target on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

About Futu

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.