Contrarius Group Holdings Ltd Acquires Stake in UP Fintech Holding Limited

During the 4th quarter, Contrarius Group Holdings Ltd made a significant investment in UP Fintech Holding Limited (NASDAQ:TIGR - Free Report), as revealed in their latest filing with the Securities and Exchange Commission. The institutional investor acquired 1,254,594 shares of UP Fintech's stock, which is valued at around $8,105,000. By the end of this reporting period, Contrarius Group Holdings Ltd held approximately 0.68% of UP Fintech's total shares.

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Several other hedge funds also altered their positions in UP Fintech recently. For instance, SBI Securities Co. Ltd. established a new stake in the company during the same period, with a value of approximately $34,000. Additionally, GAMMA Investing LLC increased its stake by 51.5%, now owning 9,136 shares worth $59,000 after acquiring an extra 3,105 shares last quarter. Burns Matteson Capital Management LLC also bought a new stake valued at about $91,000, while Alliance Wealth Advisors LLC UT purchased a stake worth around $92,000. Furthermore, Truist Financial Corp invested in UP Fintech with a new stake valued at approximately $116,000. Collectively, institutional investors and hedge funds own 9.03% of UP Fintech's stock.

UP Fintech Stock Performance

On Thursday, shares of UP Fintech (TIGR) opened at $9.66. The company has experienced a 52-week low of $3.10 and a high of $14.48. Currently, UP Fintech holds a quick ratio of 1.11, a current ratio of 1.11, and a debt-to-equity ratio of 0.30. With a market capitalization of $1.78 billion, it boasts a price-to-earnings ratio of 48.30 and a beta of 0.87. The stock has a 50-day moving average price of $7.33 and a 200-day moving average price of $6.57.

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UP Fintech (NASDAQ:TIGR - Get Free Report) last reported its earnings results on Tuesday, March 18th. The company achieved an earnings per share (EPS) of $0.17, surpassing analysts' estimates of $0.11 by $0.06. UP Fintech also reported a return on equity of 6.09% alongside a net margin of 9.14%. The company's revenue for the quarter was $124.10 million, significantly above the consensus estimate of $73.60 million.

Analyst Ratings

About UP Fintech

UP Fintech Holding Limited specializes in online brokerage services tailored for Chinese investors. The company has developed a comprehensive brokerage platform, enabling investors to trade a variety of financial instruments such as stocks, options, and warrants through their app and website. Additionally, it provides brokerage services along with value-added offerings like investor education and community engagement.

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Get the latest updates on hedge funds holding TIGR by checking relevant financial filings and insider trades for UP Fintech Holding Limited (NASDAQ:TIGR - Free Report).

Investigation into UP Fintech

Before deciding to invest in UP Fintech, it's worth noting that MarketBeat is tracking some of Wall Street's most highly-rated analysts and the stocks they currently recommend. Notably, UP Fintech is not included among the top five stocks recommended by these analysts as strong investment opportunities.

This article is presented for informational purposes and aims to provide insights regarding UP Fintech Holding Limited's market performance and investment potential. Investors are encouraged to conduct their own research before making financial decisions.

Investment, Finance, Stocks