Hanseatic Management Services Inc. purchased a new stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 29,761 shares of the financial services provider's stock, valued at approximately $907,000. Virtu Financial makes up about 1.3% of Hanseatic Management Services Inc.'s investment portfolio, making the stock its 28th largest holding.
Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Virtu Financial during the third quarter valued at about $33,000. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial during the second quarter valued at about $39,000. Abich Financial Wealth Management LLC grew its stake in shares of Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 781 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Virtu Financial during the second quarter valued at about $46,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Virtu Financial by 21.0% during the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 372 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.
Virtu Financial Stock Performance
NASDAQ VIRT traded down $0.02 during trading hours on Thursday, reaching $33.39. The company's stock had a trading volume of 845,701 shares, compared to its average volume of 1,267,362. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $31.69 and a 200 day simple moving average of $27.17. Virtu Financial, Inc. has a 52 week low of $16.02 and a 52 week high of $33.73. The stock has a market cap of $5.16 billion, a PE ratio of 16.78, a PEG ratio of 0.49 and a beta of 0.38.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million for the quarter, compared to analysts' expectations of $379.18 million. During the same quarter last year, the company posted $0.40 earnings per share. Virtu Financial's revenue was up 30.2% on a year-over-year basis. Equities research analysts predict that Virtu Financial, Inc. will post 2.7 earnings per share for the current fiscal year.
Virtu Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. Virtu Financial's dividend payout ratio is currently 48.24%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on VIRT. Bank of America lowered their target price on Virtu Financial from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Citigroup raised their target price on Virtu Financial from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $35.00 price target on shares of Virtu Financial in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.50.
Check Out Our Latest Analysis on Virtu Financial
Virtu Financial Company Profile
(
Free Report)
Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.
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