Panagora Asset Management Inc. Acquires Shares of 10,435 UP Fintech Holding Limited (NASDAQ:TIGR)
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its stake in UP Fintech by 2.5% in the third quarter. BlackRock Inc. now owns 3,285,535 shares of the company’s stock valued at $34,792,000 after purchasing an additional 79,895 shares during the period. Sylebra Capital Ltd acquired a new position in UP Fintech in the second quarter valued at $93,512,000. Goldman Sachs Group Inc. increased its stake in UP Fintech by 670.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,620,607 shares of the company’s stock valued at $46,965,000 after purchasing an additional 1,410,234 shares during the period. Morgan Stanley increased its stake in UP Fintech by 588.0% in the second quarter. Morgan Stanley now owns 1,293,774 shares of the company’s stock valued at $37,493,000 after purchasing an additional 1,105,716 shares during the period. Finally, State Street Corp increased its stake in UP Fintech by 1,407.7% in the second quarter. State Street Corp now owns 1,143,938 shares of the company’s stock valued at $33,151,000 after purchasing an additional 1,068,067 shares during the period. Institutional investors own 16.50% of the company’s stock.
A number of brokerages have recently issued reports on TIGR. Citigroup dropped their price target on shares of UP Fintech from $18.22 to $7.58 and set a “buy” rating on the stock in a research note on Wednesday, December 1st. Daiwa Capital Markets began coverage on shares of UP Fintech in a research note on Tuesday, January 18th. They set a “buy” rating and a $6.60 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.47.
TIGR stock opened at $3.80 on Friday. The company has a market cap of $613.32 million, a P/E ratio of 21.11 and a beta of 1.48. UP Fintech Holding Limited has a 52 week low of $3.79 and a 52 week high of $38.50. The company’s 50-day moving average price is $5.09 and its 200 day moving average price is $9.93. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.33.
UP Fintech (NASDAQ:TIGR) last released its quarterly earnings data on Monday, November 29th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. UP Fintech had a net margin of 11.45% and a return on equity of 7.94%.
UP Fintech Profile
UP Fintech Holding Ltd. is a brokerage firm, which engages in the provision of online brokerage services. The company was founded by Tian Hua Wu in 2014 and is headquartered in Chaoyang District, China.
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