Harvest Fund Management Co. Ltd Grows Stock Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Virtu Financial by 60.6%, owning 117,253 shares worth approximately $4.27 million as of its latest SEC filing.
• Virtu Financial has a quarterly dividend of $0.24, translating to an annual yield of 2.21% and a payout ratio of 27.75%.
• Recent analysts' ratings show a consensus rating of "Hold" for Virtu Financial, with target prices ranging from $35 to $48.

Harvest Fund Management Co. Ltd grew its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 60.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,253 shares of the financial services provider's stock after acquiring an additional 44,250 shares during the quarter. Harvest Fund Management Co. Ltd owned 0.08% of Virtu Financial worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in shares of Virtu Financial in the 1st quarter worth about $32,000. Penserra Capital Management LLC bought a new stake in shares of Virtu Financial during the first quarter valued at about $54,000. SBI Securities Co. Ltd. increased its position in shares of Virtu Financial by 26.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock valued at $64,000 after buying an additional 345 shares during the period. Huntington National Bank increased its position in shares of Virtu Financial by 528.9% during the fourth quarter. Huntington National Bank now owns 3,182 shares of the financial services provider's stock valued at $114,000 after buying an additional 2,676 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of Virtu Financial during the fourth quarter worth about $203,000. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Trading Up 1.7%

VIRT traded up $0.73 during trading hours on Wednesday, reaching $44.77. 1,446,124 shares of the company's stock traded hands, compared to its average volume of 957,949. Virtu Financial, Inc. has a 52-week low of $26.50 and a 52-week high of $45.77. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $42.71 and a 200 day moving average price of $39.64. The firm has a market capitalization of $6.90 billion, a PE ratio of 12.94, a PEG ratio of 1.14 and a beta of 0.70.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.64. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, sell-side analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.14%. Virtu Financial's dividend payout ratio (DPR) is presently 27.75%.

Insider Buying and Selling at Virtu Financial

In related news, Director John Nixon sold 6,965 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total transaction of $298,241.30. Following the sale, the director directly owned 33,923 shares of the company's stock, valued at $1,452,582.86. This trade represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 47.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VIRT. Morgan Stanley upped their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. lifted their price objective on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Bank of America cut Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research report on Thursday, May 15th. Finally, UBS Group reissued a "neutral" rating and set a $40.00 target price (up previously from $38.00) on shares of Virtu Financial in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.13.

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.