GAM Holding AG Makes New $480,000 Investment in Futu Holdings Limited (NASDAQ:FUTU)

GAM Holding AG bought a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $480,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after acquiring an additional 112 shares during the period. Rhumbline Advisers boosted its stake in shares of Futu by 0.6% in the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock valued at $1,842,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC grew its holdings in Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after purchasing an additional 184 shares in the last quarter. CIBC Asset Management Inc increased its stake in Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after buying an additional 222 shares during the period. Finally, CWM LLC lifted its holdings in Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FUTU. Citigroup lowered 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 report on Tuesday, November 19th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Stock Performance

Shares of Futu stock opened at $123.56 on Wednesday. Futu Holdings Limited has a 1 year low of $49.17 and a 1 year high of $130.50. The firm’s 50-day simple moving average is $90.93 and its 200-day simple moving average is $84.77. The firm has a market cap of $17.03 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76.

Futu Announces Dividend

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