Contrarius Group Holdings Ltd Buys New Position in UP Fintech Holding Limited (NASDAQ:TIGR)

Contrarius Group Holdings Ltd bought a new stake in shares of UP Fintech Holding Limited (NASDAQ:TIGR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,254,594 shares of the company’s stock, valued at approximately $8,105,000. Contrarius Group Holdings Ltd owned approximately 0.68% of UP Fintech at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in UP Fintech during the 4th quarter valued at about $34,000. GAMMA Investing LLC grew its stake in UP Fintech by 51.5% during the 4th quarter. GAMMA Investing LLC now owns 9,136 shares of the company’s stock valued at $59,000 after purchasing an additional 3,105 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in UP Fintech during the 4th quarter valued at about $91,000. Alliance Wealth Advisors LLC UT purchased a new stake in UP Fintech during the 4th quarter valued at about $92,000. Finally, Truist Financial Corp purchased a new stake in UP Fintech during the 4th quarter valued at about $116,000. 9.03% of the stock is owned by institutional investors and hedge funds.

UP Fintech Stock Down 0.3 %

Shares of TIGR opened at $9.66 on Thursday. UP Fintech Holding Limited has a 52 week low of $3.10 and a 52 week high of $14.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 48.30 and a beta of 0.87. The stock’s 50-day moving average price is $7.33 and its 200-day moving average price is $6.57.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Tuesday, March 18th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. UP Fintech had a return on equity of 6.09% and a net margin of 9.14%. The firm had revenue of $124.10 million for the quarter, compared to the consensus estimate of $73.60 million.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TIGR shares. Citigroup upgraded UP Fintech from a “sell” rating to a “neutral” rating and boosted their price target for the company from $5.80 to $9.50 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on UP Fintech in a research note on Thursday, January 2nd. They set a “buy” rating and a $9.40 price target on the stock. Finally, Bank of America started coverage on UP Fintech in a research note on Monday. They set a “buy” rating on the stock.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.