American Century Companies Inc. Trims Stake in Virtu Financial, Inc. $VIRT

Key Points

• American Century Companies Inc. reduced its holdings in Virtu Financial, Inc. by 40.3% in the first quarter, leaving them with shares worth $519,000.
• Several institutional investors increased their positions in Virtu Financial, including BOKF NA, which lifted its holdings by 9,018.5% in the fourth quarter.
• Analysts have mixed ratings on Virtu Financial, with a consensus rating of "Hold" and a target price of $39.75.

American Century Companies Inc. cut its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,609 shares of the financial services provider's stock after selling 9,180 shares during the quarter. American Century Companies Inc.'s holdings in Virtu Financial were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in Virtu Financial in the 1st quarter worth $32,000. Penserra Capital Management LLC purchased a new position in Virtu Financial in the 1st quarter worth $54,000. SBI Securities Co. Ltd. raised its position in Virtu Financial by 26.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after purchasing an additional 345 shares during the period. Wexford Capital LP purchased a new position in Virtu Financial in the 4th quarter worth $203,000. Finally, Bayesian Capital Management LP purchased a new position in Virtu Financial in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 45.78% of the company's stock.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of analyst reports. Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group reissued a "neutral" rating and issued a $45.00 price target (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Piper Sandler raised their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Bank of America lowered shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a report on Thursday, May 15th. Finally, Morgan Stanley raised 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. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.75.

Insider Buying and Selling

In other news, COO Brett Fairclough sold 90,701 shares of the company's 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 filing with the SEC, which is accessible through this link. 46.70% of the stock is owned by insiders.

Virtu Financial Stock Down 4.2%

NASDAQ:VIRT traded down $1.64 during mid-day trading on Thursday, hitting $36.97. 233,346 shares of the company's stock were exchanged, compared to its average volume of 957,057. Virtu Financial, Inc. has a one year low of $29.82 and a one year high of $45.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day moving average price of $42.60 and a 200 day moving average price of $40.41. The company has a market cap of $5.65 billion, a PE ratio of 10.73, a P/E/G ratio of 1.14 and a beta of 0.69.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 2.6%. Virtu Financial's payout ratio is presently 21.82%.

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.