Harvest Fund Management Co. Ltd Purchases 9,628 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Harvest Fund Management Co. Ltd grew its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 507.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,526 shares of the financial services provider’s stock after acquiring an additional 9,628 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Virtu Financial were worth $351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. USA Financial Formulas bought a new stake in Virtu Financial in the 3rd quarter valued at about $33,000. International Assets Investment Management LLC bought a new position in shares of Virtu Financial during the second quarter worth approximately $39,000. Innealta Capital LLC acquired a new stake in shares of Virtu Financial in the second quarter valued at approximately $46,000. First Horizon Advisors Inc. boosted its stake 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 valued at $48,000 after buying an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its stake 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 valued at $45,000 after buying an additional 781 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VIRT shares. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Virtu Financial in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Bank of America reduced their price objective 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. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley upped their target price 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.50.

Virtu Financial Price Performance

Shares of VIRT opened at $36.71 on Wednesday. The business has a 50-day simple moving average of $32.80 and a two-hundred day simple moving average of $28.42. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $38.09. The stock has a market cap of $5.68 billion, a PE ratio of 18.45, a PEG ratio of 0.58 and a beta of 0.38. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) 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 business had revenue of $388.00 million during the quarter, compared to analyst estimates of $379.18 million. During the same quarter last year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. Analysts anticipate that Virtu Financial, Inc. will post 2.71 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, November 29th. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

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.