Polymer Capital Management HK LTD Boosts Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Polymer Capital Management HK LTD lifted its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 42.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 220,468 shares of the company’s stock after purchasing an additional 65,365 shares during the quarter. Futu makes up 4.9% of Polymer Capital Management HK LTD’s portfolio, making the stock its 2nd largest holding. Polymer Capital Management HK LTD’s holdings in Futu were worth $21,088,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after acquiring an additional 634,369 shares during the period. E Fund Management Co. Ltd. acquired a new position in shares of Futu during the second quarter worth approximately $31,490,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 bought a new stake in Futu during the 3rd quarter valued at $39,943,000. Finally, Veritas Asset Management LLP bought a new position in shares of Futu in the third quarter worth $39,547,000.

Futu Trading Up 3.4 %

NASDAQ FUTU opened at $88.22 on Wednesday. The stock’s 50-day moving average price is $95.86 and its two-hundred day moving average price is $76.30. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The company has a market cap of $12.16 billion, a PE ratio of 21.62, a PEG ratio of 0.87 and a beta of 0.72.

Futu Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and upped their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Bank of America boosted their price objective on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley raised 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 research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Futu Company 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.