Virtu Financial LLC Buys 16,855 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Virtu Financial LLC grew its stake in Futu Holdings Limited (NASDAQ:FUTU) by 241.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,846 shares of the company’s stock after acquiring an additional 16,855 shares during the quarter. Virtu Financial LLC’s holdings in Futu were worth $2,281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FUTU. SG Americas Securities LLC bought a new position in shares of Futu in the second quarter worth approximately $123,000. Blue Trust Inc. increased its holdings in shares of Futu by 1,868.2% in the 2nd quarter. Blue Trust Inc. now owns 2,598 shares of the company’s stock worth $170,000 after purchasing an additional 2,466 shares in the last quarter. Lifestyle Asset Management Inc. increased its holdings in shares of Futu by 11.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 5,066 shares of the company’s stock worth $332,000 after purchasing an additional 530 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Futu in the second quarter worth $984,000. Finally, Bailard Inc. bought a new position in shares of Futu during the second quarter valued at $984,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FUTU shares. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

Futu Trading Down 0.7 %

FUTU opened at $85.24 on Friday. The company’s 50 day moving average is $94.48 and its 200 day moving average is $76.85. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 0.88 and a beta of 0.72. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50.

Futu Dividend Announcement

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