Aspex Management HK Ltd Increases Stake in Futu Holdings Limited (NASDAQ:FUTU)

Aspex Management HK Ltd increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,553,023 shares of the company’s stock after acquiring an additional 108,219 shares during the quarter. Futu comprises about 11.5% of Aspex Management HK Ltd’s holdings, making the stock its 2nd biggest holding. Aspex Management HK Ltd owned 3.30% of Futu worth $435,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FUTU. Allspring Global Investments Holdings LLC bought a new position in shares of Futu during the 2nd quarter valued at about $50,000. GAMMA Investing LLC boosted its stake in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC boosted its stake in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Futu during the 3rd quarter valued at $92,000. Finally, SG Americas Securities LLC purchased a new position in Futu in the 2nd quarter worth $123,000.

Analyst Ratings Changes

FUTU has been the subject of several analyst reports. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Futu Trading Up 1.0 %

Shares of FUTU stock opened at $87.23 on Monday. The company’s fifty day moving average price is $95.24 and its 200-day moving average price is $76.19. The stock has a market cap of $12.02 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 0.89 and a beta of 0.75. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50.

Futu Announces Dividend

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

Futu Profile

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.