Hanseatic Management Services Inc. Takes $907,000 Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Hanseatic Management Services Inc. acquired a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRTFree Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 29,761 shares of the financial services provider’s stock, valued at approximately $907,000. Virtu Financial accounts for about 1.3% of Hanseatic Management Services Inc.’s holdings, making the stock its 28th largest position.

Several other hedge funds have also recently made changes to their positions in VIRT. USA Financial Formulas bought a new stake in Virtu Financial in the 3rd quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in shares of Virtu Financial during the 2nd quarter valued at $39,000. Innealta Capital LLC purchased a new position in shares of Virtu Financial in the 2nd quarter worth $46,000. First Horizon Advisors Inc. grew its holdings in shares of Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Virtu Financial by 55.3% in the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 781 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Price Performance

Shares of NASDAQ:VIRT opened at $33.41 on Thursday. The firm’s 50 day simple moving average is $31.64 and its two-hundred day simple moving average is $27.13. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $5.17 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.49 and a beta of 0.38. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $33.55.

Virtu Financial (NASDAQ:VIRTGet Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating 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 company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. During the same quarter in the previous year, the company earned $0.40 EPS. Virtu Financial’s revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts expect that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Sunday, December 1st. Virtu Financial’s dividend payout ratio is currently 48.24%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VIRT. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of 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 boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Citigroup upped their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Bank of America dropped their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Virtu Financial currently has an average 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.

Further Reading

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Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

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