Harbour Capital Advisors LLC Increases Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Harbour Capital Advisors LLC grew its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 101.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,495 shares of the company’s stock after acquiring an additional 3,775 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Futu were worth $604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc boosted its stake in shares of Futu by 3.2% during the second quarter. TD Asset Management Inc now owns 15,884 shares of the company’s stock worth $1,042,000 after buying an additional 498 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Futu by 23.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,700 shares of the company’s stock valued at $308,000 after purchasing an additional 900 shares in the last quarter. Forsta AP Fonden lifted its stake in shares of Futu by 4.7% in the second quarter. Forsta AP Fonden now owns 20,100 shares of the company’s stock valued at $1,319,000 after purchasing an additional 900 shares during the period. Federated Hermes Inc. boosted its holdings in Futu by 743.5% during the second quarter. Federated Hermes Inc. now owns 18,227 shares of the company’s stock worth $1,196,000 after buying an additional 16,066 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Futu by 1,159.9% during the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock worth $19,176,000 after buying an additional 269,100 shares during the period.

Futu Stock Performance

Futu stock traded up $0.18 during trading on Monday, hitting $75.59. The company’s stock had a trading volume of 951,058 shares, compared to its average volume of 1,609,209. The stock’s fifty day moving average is $86.72 and its 200 day moving average is $78.39. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 0.88 and a beta of 0.75.

Futu Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America boosted their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Citigroup downgraded 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. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.