671,276 Shares in Virtu Financial, Inc. $VIRT Purchased by Algebris UK Ltd.

Key Points

• Algebris UK Ltd. opened a new position in Virtu Financial, buying 671,276 shares worth about $22.4 million in the fourth quarter, making the stock its 25th largest holding.
• Virtu Financial beat quarterly expectations, reporting $2.24 EPS versus the $1.66 consensus and revenue of $786.5 million, up 30.7% year over year. Analysts now expect full-year EPS of 5.53.
• The company declared a quarterly dividend of $0.24 per share, payable June 15, while shares traded around $53.70, near their 52-week high of $56.48. The stock has a consensus analyst rating of Moderate Buy with a target price of $48.67.

Algebris UK Ltd. acquired a new position in Virtu Financial, Inc. (NYSE:VIRT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 671,276 shares of the company's stock, valued at approximately $22,377,000. Virtu Financial comprises about 1.1% of Algebris UK Ltd.'s holdings, making the stock its 25th largest holding. Algebris UK Ltd. owned about 0.44% of Virtu Financial at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Virtu Financial by 15.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,957 shares of the company's stock worth $132,000 after buying an additional 542 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Virtu Financial by 2,273.1% in the 4th quarter. Larson Financial Group LLC now owns 1,234 shares of the company's stock worth $41,000 after buying an additional 1,182 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Virtu Financial by 34.1% in the 4th quarter. Handelsbanken Fonder AB now owns 27,900 shares of the company's stock worth $930,000 after buying an additional 7,100 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Virtu Financial by 1.7% in the 4th quarter. Gabelli Funds LLC now owns 161,408 shares of the company's stock worth $5,378,000 after buying an additional 2,630 shares during the last quarter. Finally, Barr E S & Co. acquired a new stake in Virtu Financial in the 4th quarter worth about $346,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VIRT shares. The Goldman Sachs Group lifted their price objective on Virtu Financial from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Morgan Stanley lifted their price objective on Virtu Financial from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Friday, April 10th. Piper Sandler raised their target price on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Zacks Research raised shares of Virtu Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Virtu Financial from $44.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Virtu Financial has a consensus rating of "Moderate Buy" and a consensus price target of $48.67.

Virtu Financial Trading Down 0.8%

VIRT opened at $53.70 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.48 and a quick ratio of 0.48. The company's 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $40.21. Virtu Financial, Inc. has a 1-year low of $31.55 and a 1-year high of $56.48. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62.

Virtu Financial (NYSE:VIRT - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.58. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The business had revenue of $786.53 million for the quarter, compared to analyst estimates of $613.12 million. During the same period last year, the company posted $1.30 EPS. The business's revenue was up 30.7% on a year-over-year basis. Analysts expect that Virtu Financial, Inc. will post 5.53 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. Virtu Financial's payout ratio is presently 15.89%.

Insider Activity at Virtu Financial

In other news, COO Brett Fairclough sold 30,000 shares of Virtu Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the sale, the chief operating officer owned 42,473 shares of the company's stock, valued at approximately $2,126,198.38. The trade was a 41.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 46.76% of the company's stock.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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