27,587 Shares in Futu Holdings Limited Sponsored ADR $FUTU Purchased by Clear Street Group Inc.

Clear Street Group Inc. purchased a new position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,587 shares of the company’s stock, valued at approximately $4,530,000.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in shares of Futu during the first quarter valued at approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of Futu during the fourth quarter valued at approximately $49,000. Parkside Financial Bank & Trust boosted its position in shares of Futu by 30,000.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 301 shares of the company’s stock valued at $49,000 after buying an additional 300 shares during the period. Quarry LP purchased a new position in shares of Futu during the third quarter valued at approximately $51,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Futu by 53.2% during the fourth quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock valued at $54,000 after buying an additional 115 shares during the period.

Futu Stock Up 2.1%

Futu stock opened at $97.54 on Friday. The business has a fifty day moving average of $132.97 and a two-hundred day moving average of $150.01. The firm has a market cap of $13.67 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.14 and a beta of 0.40. Futu Holdings Limited Sponsored ADR has a twelve month low of $80.50 and a twelve month high of $202.53.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The company had revenue of $694.17 million for the quarter, compared to analysts’ expectations of $761.35 million. Futu had a return on equity of 26.48% and a net margin of 41.87%. Equities analysts expect that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current year.

Futu Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were issued a dividend of $2.60 per share. The ex-dividend date was Thursday, April 16th. Futu’s dividend payout ratio is currently 28.05%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group lowered Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price for the company. in a research report on Monday, May 25th. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Barclays dropped their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Jefferies Financial Group restated a “buy” rating and set a $170.50 target price on shares of Futu in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 target price (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.