Cetera Investment Advisers Acquires 15,640 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• Cetera Investment Advisers increased its stake in Virtu Financial by 87.8%, now holding 33,446 shares valued at approximately $1.275 million.
• Wall Street analysts have mixed ratings on Virtu Financial, with a consensus price target of $39.75 and several price target adjustments, including an increase by Piper Sandler to $48.00.
• Virtu Financial declared a quarterly dividend of $0.24 per share, representing an annualized yield of 2.3%, with the next payment due on September 15th.

Cetera Investment Advisers raised its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 87.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,446 shares of the financial services provider's stock after buying an additional 15,640 shares during the quarter. Cetera Investment Advisers' holdings in Virtu Financial were worth $1,275,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Financial Management Professionals Inc. bought a new stake in Virtu Financial during the first quarter valued at approximately $32,000. Penserra Capital Management LLC purchased a new stake in Virtu Financial during the 1st quarter valued at approximately $54,000. SBI Securities Co. Ltd. boosted its stake in Virtu Financial by 26.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after buying an additional 345 shares during the period. Wexford Capital LP bought a new stake in shares of Virtu Financial in the fourth quarter valued at about $203,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Virtu Financial during the fourth quarter worth about $210,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Price Performance

NASDAQ:VIRT traded down $0.43 during mid-day trading on Friday, reaching $41.41. The stock had a trading volume of 56,581 shares, compared to its average volume of 944,207. The stock has a market capitalization of $6.33 billion, a PE ratio of 11.95, a P/E/G ratio of 1.14 and a beta of 0.69. 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, Inc. has a 12 month low of $28.98 and a 12 month high of $45.77. The stock has a 50-day simple moving average of $43.12 and a two-hundred day simple moving average of $40.06.

Virtu Financial Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on VIRT shares. Evercore ISI raised their target price on Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Piper Sandler upped their target price on Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley raised their price objective on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Finally, Bank of America downgraded Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Virtu Financial currently has an average rating of "Hold" and an average price target of $39.75.

Insider Buying and Selling

In related news, COO Brett Fairclough sold 90,701 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.70% of the company's stock.

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.