Marshall Wace LLP recently announced the acquisition of new stake in Futu Holdings Limited (NASDAQ:FUTU). The institutional investor has increased its shareholding in the Financial company by 5,667.88% to 0.38 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 0.67% valued currently at $13.22 million. In addition, Renaissance Technologies LLC raised its holdings by 0.31 million to 0.31 million shares.
With over 1.75 million Futu Holdings Limited (FUTU) shares trading Tuesday and a closing price of $33.05 on the day, the dollar volume was approximately $57.9 million. The shares have shown a positive weekly performance of 0.15% and its price on 09/01/20 gained nearly 2.74%. Currently, there are 125.49M common shares owned by the public and among those 52.11M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for FUTU have a consensus price objective of $315.45. The analysts have set the share’s price value over the next 12 months at a high of $382.93 and a low of $261.96 should the stock experience a downside. Incidentally, analysts’ outlook for the Futu Holdings Limited stock is 2.20 for the next 12 months. The average price target is 6.27% above its last price level and an upside to the estimated low will see the stock gain 87.38% over that period. But an upside of 91.37% will see the stock hit the forecast high price target while mean target price for the stock is $321.63.
The top 3 mutual fund holders in Futu Holdings Limited are EMQQ Emerging Markets Internet &, Innovator IBD 50 ETF, and Global X ETF Series – China Cloud. EMQQ Emerging Markets Internet & owns 56965.0 shares of the company’s stock, all valued at over $1.96 million. The company bought an additional 664.0 shares recently to bring their total holdings to about 0.10% of the shares outstanding. Global X ETF Series – China Cloud bought 546.0 shares to bring its total holdings to over 24873.0 shares at a value of $0.85 million. Global X ETF Series – China Cloud now owns shares totaling to 0.04% of the shares outstanding.
Shares of Futu Holdings Limited (NASDAQ: FUTU) opened at $32.10, down -$0.07 from a prior closing price of $32.17. However, the script later closed the day at $33.05, up 2.74%. The company’s stock has a 5-day price change of 0.15% and 64.84% over the past three months. FUTU shares are trading 220.25% year to date (YTD), with the 12-month market performance up to 210.91% higher. It has a 12-month low price of $8.16 and touched a high of $40.99 over the same period. Currently, 1.75 million shares have been traded, compared to an average intraday trading volume of 1.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.90%, 7.63%, and 98.20% respectively.
Institutional ownership of Futu Holdings Limited (NASDAQ: FUTU) shares accounts for 7.70% of the company’s 125.49M shares outstanding. Mutual fund holders own 0.26%, while other institutional holders and individual stakeholders account for 3.38% and — respectively.
It has a market capitalization of $4.44B. The stock’s trailing 12-month PE ratio is 74.77, while the earnings-per-share (ttm) stands at $0.44. The company has a PEG of 4.70 and the debt-to-equity ratio at 0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.89% over the week and 6.09% over the month.
Analysts forecast that Futu Holdings Limited (FUTU) will achieve an EPS of $0.04 for the current quarter, $0.03 for the next quarter and $1.28 for 2021. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 266.90%, and 47.05% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Futu Holdings Limited (FUTU) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”