GAM Holding AG Acquires 6,000 Shares in Futu Holdings Limited

GAM Holding AG recently announced its acquisition of 6,000 shares in Futu Holdings Limited (NASDAQ:FUTU) during the fourth quarter of the fiscal year. This investment was disclosed in a filing with the Securities and Exchange Commission, estimating the total value of the shares purchased at around $480,000.

Market Reaction

Futu Holdings, a financial services firm based in Hong Kong, has seen a significant price increase, surging by 33.12% recently, largely driven by favorable hints of economic stimulus. Such movements in stock prices can attract more attention from institutional investors like GAM Holding AG.

Investor Activity

In addition to GAM Holding's purchase, other hedge funds and institutional investors have also adjusted their stakes in Futu Holdings. For instance, CWM LLC increased its position by 67.7% during the third quarter, now holding 743 shares worth $71,000 after purchasing an additional 300 shares. Similarly, GAMMA Investing LLC elevated its stake by 31.0% in the fourth quarter, now owning 778 shares valued at $62,000.

Allspring Global Investments Holdings LLC also raised its position by 14.6%, bringing its holdings to 877 shares worth $84,000. Venturi Wealth Management LLC entered a new investment position in Futu in the third quarter, valued at approximately $92,000, and Janus Henderson Group PLC also established a new stake worth around $201,000 during the same period.

Current Stock Performance

As of Wednesday, Futu's stock opened at $123.56. The company boasts a market capitalization of $17.03 billion, with a price-to-earnings ratio of 30.28 and a price-to-earnings-growth ratio of 0.77. Futu's stock has fluctuated in the past year, with a low of $49.17 and a high of $130.50. Its 50-day moving average stands at $90.93, while the 200-day moving average is at $84.77.

Dividend Payment

Recently, Futu Holdings declared a dividend, which was paid on January 10th. Eligible investors who were on record as of December 6th received a payment of $2.00 per share. The ex-dividend date was also on December 6th.

Analyst Insights

Market analysts have provided mixed ratings on Futu Holdings. Citigroup adjusted its rating from "buy" to a "neutral", setting a new price target of $95.00. Conversely, Morgan Stanley upgraded its rating from "equal weight" to "overweight" with a target price of $115.00. Current ratings reveal that one analyst rates the stock as a hold while four have issued buy ratings. The consensus rating is categorized as a "Moderate Buy" with an average price target of $91.40.

About Futu Holdings

Futu Holdings Limited specializes in providing digitalized securities brokerage and wealth management services, predominantly in Hong Kong and internationally. The company offers a wide array of online financial services, including brokerage services for securities and derivatives, margin financing, and fund distribution through its digital platforms, Futubull and Moomoo.

GAM, Futu, investments