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

Yorktown Management & Research Co Inc purchased a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,500 shares of the company’s stock, valued at approximately $280,000.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after acquiring an additional 383 shares during the period. CWM LLC increased its position in shares of Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Futu by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after acquiring an additional 112 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Futu in the third quarter valued at about $92,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Futu during the third quarter valued at about $201,000.

Analyst Ratings Changes

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

Futu Price Performance

NASDAQ:FUTU opened at $98.72 on Wednesday. Futu Holdings Limited has a one year low of $45.15 and a one year high of $130.50. The company’s 50-day simple moving average is $85.90 and its 200 day simple moving average is $80.97. The firm has a market capitalization of $13.60 billion, a P/E ratio of 24.20, a PEG ratio of 0.76 and a beta of 0.76.

Futu Dividend Announcement

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

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.