Sparta 24 Ltd. Has $36.59 Million Stock Position in UP Fintech Holding Limited $TIGR

Sparta 24 Ltd. grew its stake in UP Fintech Holding Limited (NASDAQ:TIGR) by 9.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,808,267 shares of the company’s stock after buying an additional 482,607 shares during the period. UP Fintech accounts for about 41.8% of Sparta 24 Ltd.’s holdings, making the stock its largest position. Sparta 24 Ltd.’s holdings in UP Fintech were worth $36,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of UP Fintech during the second quarter valued at about $33,000. GeoWealth Management LLC bought a new stake in shares of UP Fintech in the 4th quarter worth approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of UP Fintech during the 4th quarter worth approximately $94,000. Stonehaven Wealth & Tax Solutions LLC acquired a new stake in shares of UP Fintech during the 4th quarter worth approximately $100,000. Finally, Hsbc Holdings PLC bought a new position in UP Fintech in the first quarter worth $67,000. Institutional investors own 9.03% of the company’s stock.

Wall Street Analyst Weigh In

TIGR has been the topic of several recent research reports. Citigroup decreased their target price on shares of UP Fintech to $7.10 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of UP Fintech in a research report on Monday, April 20th. Wall Street Zen cut UP Fintech from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Bank of America restated a “buy” rating on shares of UP Fintech in a research note on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.23.

Insider Buying and Selling

In other news, Director Jian Liu sold 9,333 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.60, for a total value of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares of the company’s stock, valued at $288,259. This trade represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 50.90% of the company’s stock.

UP Fintech Price Performance

NASDAQ TIGR opened at $4.61 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. UP Fintech Holding Limited has a 12-month low of $4.00 and a 12-month high of $13.55. The firm’s 50 day moving average is $4.96 and its 200-day moving average is $6.82. The company has a market capitalization of $874.51 million, a PE ratio of 7.68 and a beta of 0.45.

UP Fintech Company Profile

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company’s primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.