Virtu Financial, Inc. (NASDAQ:VIRT) COO Sells $3,845,722.40 in Stock

Key Points

• Brett Fairclough, COO of Virtu Financial, sold 90,701 shares of the company's stock at an average price of $42.40, totaling approximately $3.85 million.
• Virtu Financial announced a quarterly dividend of $0.24 per share, with the ex-dividend date set for August 29th and payment scheduled for September 15th.
• Institutional investors have increased their holdings in Virtu Financial, with Vanguard Group boosting its position by 1.8%, now owning over 9.5 million shares.

Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) COO Brett Fairclough sold 90,701 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $42.40, for a total value of $3,845,722.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Virtu Financial Price Performance

Shares of NASDAQ VIRT traded down $0.77 during mid-day trading on Wednesday, hitting $41.34. 150,012 shares of the company's stock traded hands, compared to its average volume of 946,712. The company has a market capitalization of $6.32 billion, a P/E ratio of 11.95, a PEG ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 1 year low of $28.77 and a 1 year high of $45.77. The company's 50-day moving average is $43.08 and its two-hundred day moving average is $40.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Virtu Financial's payout ratio is 21.82%.

Analysts Set New Price Targets

VIRT has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group restated a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Bank of America downgraded Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target for the company. in a research note on Thursday, May 15th. Morgan Stanley lifted their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Finally, Evercore ISI boosted their target price on shares of Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.75.

Hedge Funds Weigh In On Virtu Financial

A number of institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Virtu Financial by 96.0% during the 2nd quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider's stock worth $26,000 after acquiring an additional 285 shares in the last quarter. Brooklyn Investment Group raised its holdings in Virtu Financial by 243.0% in the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock valued at $30,000 after buying an additional 554 shares during the period. Financial Management Professionals Inc. acquired a new stake in Virtu Financial during the 1st quarter valued at $32,000. Jones Financial Companies Lllp boosted its holdings in Virtu Financial by 1,624.1% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock worth $38,000 after purchasing an additional 942 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in Virtu Financial in the first quarter worth about $54,000. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Company Profile

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.