Sparta 24 Ltd. Has $16.81 Million Stock Position in UP Fintech Holding Limited (NASDAQ:TIGR)

Sparta 24 Ltd. raised its holdings in shares of UP Fintech Holding Limited (NASDAQ:TIGR) by 113.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,148,128 shares of the company’s stock after purchasing an additional 1,675,296 shares during the quarter. UP Fintech makes up approximately 15.4% of Sparta 24 Ltd.’s holdings, making the stock its 4th largest holding. Sparta 24 Ltd.’s holdings in UP Fintech were worth $16,811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TIGR. GAMMA Investing LLC grew its holdings in shares of UP Fintech by 308.9% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock valued at $26,000 after buying an additional 5,804 shares during the period. GSA Capital Partners LLP grew its holdings in shares of UP Fintech by 19.8% in the 1st quarter. GSA Capital Partners LLP now owns 280,979 shares of the company’s stock valued at $967,000 after buying an additional 46,394 shares during the period. Headlands Technologies LLC acquired a new position in shares of UP Fintech in the 1st quarter valued at $34,000. Russell Investments Group Ltd. grew its holdings in shares of UP Fintech by 6,367.8% in the 1st quarter. Russell Investments Group Ltd. now owns 453,585 shares of the company’s stock valued at $1,560,000 after buying an additional 446,572 shares during the period. Finally, Virtu Financial LLC boosted its stake in UP Fintech by 61.3% in the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock worth $93,000 after purchasing an additional 10,329 shares during the period. Institutional investors own 9.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TIGR. China Renaissance raised shares of UP Fintech from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup restated a “sell” rating and set a $5.50 price objective (up from $5.00) on shares of UP Fintech in a research note on Tuesday.

UP Fintech Stock Down 6.2 %

Shares of TIGR stock opened at $6.05 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.15. The firm’s 50-day moving average is $5.24 and its 200-day moving average is $4.47. The stock has a market cap of $949.18 million, a price-to-earnings ratio of 35.59 and a beta of 0.93. UP Fintech Holding Limited has a 52-week low of $3.10 and a 52-week high of $14.48.

UP Fintech (NASDAQ:TIGR) last issued its earnings results on Friday, August 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $87.44 million during the quarter. UP Fintech had a net margin of 8.59% and a return on equity of 5.35%.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.