Apollon Wealth Management LLC Invests $347,000 in Virtu Financial, Inc. $VIRT

Key Points

• Apollon Wealth Management LLC invested $347,000 in Virtu Financial, acquiring 7,756 shares of the company during the second quarter.
• Insider activity includes COO Brett Fairclough selling 90,701 shares for over $3.8 million, while insiders collectively own 47.20% of the stock.
• Virtu Financial announced a quarterly dividend of $0.24 per share, yielding 2.9% annually, with a dividend payout ratio of 21.82%.

Apollon Wealth Management LLC acquired a new position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,756 shares of the financial services provider's stock, valued at approximately $347,000.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group increased its holdings in shares of Virtu Financial by 243.0% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 554 shares during the period. Jones Financial Companies Lllp boosted its position in Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 942 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Virtu Financial by 410.6% during the second quarter. Farther Finance Advisors LLC now owns 1,297 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 1,043 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Virtu Financial by 89.7% during the second quarter. AdvisorNet Financial Inc now owns 1,368 shares of the financial services provider's stock valued at $61,000 after buying an additional 647 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Virtu Financial during the first quarter valued at about $54,000. Institutional investors own 45.78% of the company's stock.

Insider Activity

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $42.40, for a total transaction of $3,845,722.40. The sale was disclosed in a filing with the SEC, which is available through this link. 47.20% of the stock is currently owned by company insiders.

Virtu Financial Stock Up 0.5%

Shares of VIRT stock opened at $33.25 on Friday. The stock's 50-day simple moving average is $37.57 and its 200-day simple moving average is $39.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $5.08 billion, a PE ratio of 9.61, a P/E/G ratio of 1.14 and a beta of 0.62. Virtu Financial, Inc. has a fifty-two week low of $29.82 and a fifty-two week high of $45.77.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its earnings results on Tuesday, March 12th. The financial services provider reported $0.37 EPS for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The firm had revenue of $274.00 million for the quarter. Equities analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial's dividend payout ratio (DPR) is 21.82%.

Wall Street Analyst Weigh In

VIRT has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price target (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. The Goldman Sachs Group lowered their price objective on Virtu Financial from $48.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Finally, Morgan Stanley increased their price target on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Virtu Financial currently has an average rating of "Hold" and a consensus target price of $41.43.

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.

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