256,200 Shares in Virtu Financial, Inc. $VIRT Purchased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. purchased 256,200 shares of Virtu Financial, valued at approximately $11,475,000, representing about 0.17% ownership as of the latest SEC filing.
• Multiple institutional investors increased their stakes in Virtu Financial, with notable increases from QRG Capital Management (123.6%) and USA Financial Formulas (581.4%) during the 2nd quarter.
• Virtu Financial's quarterly dividend was announced at $0.24, resulting in an annualized yield of 2.9% and a payout ratio of 21.82%.

Hennessy Advisors Inc. purchased a new position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 256,200 shares of the financial services provider's stock, valued at approximately $11,475,000. Hennessy Advisors Inc. owned approximately 0.17% of Virtu Financial at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. QRG Capital Management Inc. increased its stake in shares of Virtu Financial by 123.6% in the 2nd quarter. QRG Capital Management Inc. now owns 51,959 shares of the financial services provider's stock worth $2,327,000 after acquiring an additional 28,720 shares in the last quarter. Vicus Capital bought a new position in shares of Virtu Financial in the 2nd quarter worth about $288,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Virtu Financial by 59.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 279,161 shares of the financial services provider's stock worth $12,504,000 after acquiring an additional 103,980 shares in the last quarter. USA Financial Formulas increased its stake in shares of Virtu Financial by 581.4% in the 2nd quarter. USA Financial Formulas now owns 5,778 shares of the financial services provider's stock worth $259,000 after acquiring an additional 4,930 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Virtu Financial by 13.5% in the 2nd quarter. Truist Financial Corp now owns 38,081 shares of the financial services provider's stock worth $1,706,000 after acquiring an additional 4,515 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors.

Insider Activity at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of Virtu Financial stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this link. 47.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VIRT shares. UBS Group reiterated a "neutral" rating and issued a $45.00 price target (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Morgan Stanley raised their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Finally, Piper Sandler raised their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Virtu Financial currently has an average rating of "Hold" and a consensus price target of $41.29.

Virtu Financial Stock Down 1.8%

NASDAQ:VIRT opened at $33.65 on Friday. The firm has a 50-day simple moving average of $39.63 and a two-hundred day simple moving average of $40.35. Virtu Financial, Inc. has a fifty-two week low of $29.82 and a fifty-two week high of $45.77. The firm has a market cap of $5.14 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a $0.24 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. Virtu Financial's payout ratio is currently 21.82%.

Virtu Financial 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.

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