Y Intercept Hong Kong Ltd Purchases 24,355 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Y Intercept Hong Kong Ltd raised its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 136.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,149 shares of the company’s stock after purchasing an additional 24,355 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Futu were worth $4,032,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Futu during the second quarter valued at approximately $50,000. GAMMA Investing LLC increased its holdings in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC raised its stake in shares of Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Futu during the third quarter valued at $92,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Futu during the second quarter valued at $123,000.

Analyst Upgrades and Downgrades

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

Futu Stock Down 4.1 %

NASDAQ FUTU opened at $83.27 on Monday. The company has a 50-day moving average price of $96.14 and a 200-day moving average price of $76.47. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50. The firm has a market capitalization of $11.47 billion, a P/E ratio of 20.41, a PEG ratio of 0.85 and a beta of 0.72.

Futu Announces Dividend

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

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.