BlackRock Fund Advisors 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 4.83% to 1.87 million shares with purchase of 86350.0 shares. This fresh investment now brings its stake to 2.20% valued currently at $63.45 million. In addition, Millennium Management LLC raised its holdings by 1.49 million to 1.61 million shares. And Baillie Gifford & Co. has lifted its position by 1.48% or 16449.0 shares – to 1.12 million shares.
With over 4.08 million Futu Holdings Limited (FUTU) shares trading Tuesday and a closing price of $54.39 on the day, the dollar volume was approximately $221.77 million. The shares have shown a positive half year performance of 72.12% and its price on 11/22/22 gained nearly 7.92%. Currently, there are 142.43M common shares owned by the public and among those 78.24M 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: 21 analysts who have offered their price forecasts for FUTU have a consensus price objective of $483.38. The analysts have set the share’s price value over the next 12 months at a high of $592.95 and a low of $313.78. The average price target is 4.93% above its recent price level and an upside to the estimated low will see the stock gain 82.67% over that period. But an upside of 90.83% will see the stock hit the forecast high price target while median target price for the stock is $480.80.
The top 3 mutual fund holders in Futu Holdings Limited are American Funds EuroPacific Growth, Global Internet Leaders SICAV-FIS, and American Funds Insurance Series -. American Funds EuroPacific Growth owns 3.18 million shares of the company’s stock, all valued at over $107.66 million. The company bought an additional 0.43 million shares recently to bring their total holdings to about 3.73% of the shares outstanding. American Funds Insurance Series – bought 36100.0 shares to bring its total holdings to over 0.48 million shares at a value of $16.14 million. American Funds Insurance Series – now owns shares totaling to 0.56% of the shares outstanding.
Shares of Futu Holdings Limited (NASDAQ: FUTU) opened at $49.32, down -$1.08 from a prior closing price of $50.40. However, the script later moved the day high at 54.60, up 7.92%. The company’s stock has a 5-day price change of 0.98% and 33.57% over the past three months. FUTU shares are trading 25.61% year to date (YTD), with the 12-month market performance down to -1.32% lower. It has a 12-month low price of $21.23 and touched a high of $57.76 over the same period. FUTU has an average intraday trading volume of 2.48 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 30.89%, 37.88%, and 36.03% respectively.
Institutional ownership of Futu Holdings Limited (NASDAQ: FUTU) shares accounts for 36.90% of the company’s 142.43M shares outstanding. Mutual fund holders own 10.52%, while other institutional holders and individual stakeholders account for 19.64% and — respectively.
It has a market capitalization of $8.25B and a beta (3y monthly) value of 0.34. The stock’s trailing 12-month PE ratio is 27.51, while the earnings-per-share (ttm) stands at $1.98. The company has a PEG of 17.52 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.66% over the week and 6.19% over the month.
Analysts forecast that Futu Holdings Limited (FUTU) will achieve an EPS of $1.05 for the current quarter, $1.05 for the next quarter and $3.9 for 2022. The lowest estimate earnings-per-share for the quarter is $1.05 while analysts give the company a high EPS estimate of $1.05. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 82.50%, and 28.12% over the next financial year. EPS should shrink at an annualized rate of 1.57% over the next five years, compared to 80.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Futu Holdings Limited (FUTU) as a “Strong Buy” at a consensus score of 1.60. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 2 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FUTU, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on September 01, 2022, with the firm’s price target at $55-$62. CLSA coverage for the Futu Holdings Limited (FUTU) stock in a research note released on September 01, 2022 offered a Underperform rating with a price target of $46. CLSA on their part issued Sell rating on June 06, 2022.