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

Hanseatic Management Services Inc. bought a new stake in Virtu Financial, Inc. (NASDAQ:VIRT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. USA Financial Formulas bought a new stake in shares of Virtu Financial in the 3rd quarter valued at about $33,000. International Assets Investment Management LLC bought a new stake in Virtu Financial in the 2nd quarter worth $39,000. Abich Financial Wealth Management LLC grew its holdings in Virtu Financial by 55.3% in the 1st 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 last quarter. Innealta Capital LLC purchased a new position in shares of Virtu Financial in the second quarter valued at about $46,000. Finally, First Horizon Advisors Inc. raised 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 during the last quarter. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Virtu Financial Trading Up 5.0 %

NASDAQ VIRT opened at $33.41 on Thursday. The stock’s fifty day moving average price is $31.64 and its 200-day moving average price is $27.13. 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 stock has a market cap 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 12 month low of $16.02 and a 12 month high of $33.55.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data 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. The business had revenue of $388.00 million during the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. Virtu Financial’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. As a group, equities analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VIRT shares. Morgan Stanley lifted their price objective on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective 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 raised their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. Finally, Bank of America lowered their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $29.50.

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.