Csenge Advisory Group Takes $422,000 Position in Futu Holdings Limited (NASDAQ:FUTU)

Csenge Advisory Group bought a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,276 shares of the company’s stock, valued at approximately $422,000.

A number of other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after acquiring an additional 465,961 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Futu in the 3rd quarter valued at about $39,943,000. Veritas Asset Management LLP bought a new position in Futu during the third quarter worth about $39,547,000. Yong Rong HK Asset Management Ltd increased its position in Futu by 2,525.3% during the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after buying an additional 378,800 shares during the last quarter. Finally, Hhlr Advisors LTD. raised its stake in Futu by 46.8% in the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares during the period.

Futu Stock Up 1.4 %

Shares of NASDAQ:FUTU opened at $123.56 on Wednesday. The stock has a market cap of $17.03 billion, a PE ratio of 30.28, a P/E/G ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a 12-month low of $49.17 and a 12-month high of $130.50. The business has a 50 day moving average of $90.93 and a 200-day moving average of $84.77.

Futu Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on FUTU shares. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.40.

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.