Harvest Fund Management Co. Ltd Purchases 61,477 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Harvest Fund Management Co. Ltd grew its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 533.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,003 shares of the financial services provider's stock after buying an additional 61,477 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Virtu Financial were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in Virtu Financial during the 4th quarter worth $25,000. Kestra Investment Management LLC acquired a new stake in shares of Virtu Financial during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Virtu Financial by 172.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider's stock worth $31,000 after purchasing an additional 551 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of Virtu Financial in the fourth quarter valued at approximately $45,000. Finally, SBI Securities Co. Ltd. bought a new position in Virtu Financial in the 4th quarter valued at approximately $47,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Trading Up 3.5 %

VIRT traded up $1.30 during trading on Monday, reaching $38.88. 641,305 shares of the stock traded hands, compared to its average volume of 1,131,896. The stock's 50-day moving average is $37.18 and its 200 day moving average is $35.12. Virtu Financial, Inc. has a 12 month low of $20.07 and a 12 month high of $41.38. The company has a quick ratio of 0.46, a current ratio of 1.13 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $6.02 billion, a PE ratio of 13.09, a P/E/G ratio of 1.43 and a beta of 0.57.

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Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. Equities analysts anticipate that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.47%. Virtu Financial's payout ratio is presently 32.32%.

Analysts Set New Price Targets

Several research firms recently commented on VIRT. Morgan Stanley lifted their target price on shares of Virtu Financial from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Piper Sandler boosted their price objective on shares of Virtu Financial from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.36.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 72,967 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $36.84, for a total value of $2,688,104.28. Following the transaction, the chief operating officer now owns 90,749 shares in the company, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Cavoli sold 34,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $36.88, for a total value of $1,253,920.00. Following the sale, the executive vice president now owns 191,703 shares of the company's stock, valued at approximately $7,070,006.64. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,967 shares of company stock valued at $5,213,964 over the last ninety days. 46.70% of the stock is owned by corporate insiders.

About Virtu Financial

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.