Asset Management One Co. Ltd. Reduces Shareholding in UP Fintech Holding Limited (NASDAQ:TIGR)

Asset Management One Co. Ltd. has reduced its stake in UP Fintech Holding Limited (NASDAQ:TIGR) by 28.3% in the fourth quarter of the year, according to the most recent Form 13F filing with the SEC. After selling 4,450 shares, Asset Management One now holds a total of 11,283 shares of the company. The value of their holdings in UP Fintech is approximately $78,000 based on the latest filing.

In addition to Asset Management One, several other hedge funds have also recently adjusted their positions in UP Fintech. GAMMA Investing LLC increased its stake by 51.5% in the fourth quarter, now owning 9,136 shares valued at $59,000 after acquiring an additional 3,105 shares. Burns Matteson Capital Management LLC entered the scene by purchasing a new stake in UP Fintech, valued at about $91,000. Similarly, Alliance Wealth Advisors LLC UT also bought a new stake valued at around $92,000 during the same period. Blue Trust Inc. significantly increased its position by 198.6% during the previous third quarter, now holding 14,657 shares valued at $78,000 after acquiring an added 9,748 shares. Furthermore, Diversify Advisory Services LLC purchased a new stake in the fourth quarter valued at approximately $119,000. As a result, 9.03% of UP Fintech’s stock is currently held by institutional investors.

UP Fintech Stock Performance

The UP Fintech stock opened at $8.20 on Friday, showing a slight decline of 1.2%. The company's current ratio stands at 1.11, as does its quick ratio, indicating a balanced liquidity position. The debt-to-equity ratio is 0.30. Over the recent trading sessions, the fifty-day simple moving average reflects at $7.10, while the two-hundred-day simple moving average is at $6.08. UP Fintech Holding Limited has experienced a twelve-month low of $3.10 and a high of $14.48. The company's market capitalization is $1.51 billion, with a price-to-earnings ratio of 41.00, and it features a beta of 0.86, illustrating its volatility compared to the overall market.

Analyst Insights

In separate news, Deutsche Bank Aktiengesellschaft has initiated coverage on UP Fintech. In a report released on January 2nd, they assigned a "buy" rating along with a price target of $9.40 for the stock.

Company Overview

UP Fintech Holding Limited focuses on providing online brokerage services specifically targeted at Chinese investors. They have developed a robust brokerage platform that enables clients to trade various financial instruments such as stocks, options, warrants, and more via their application and website. The company additionally offers a variety of value-added services, including investor education, community engagement, and investor relations platform services.

AssetManagement, UPFintech, Investment