Clark Capital Management Group Inc. bought a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 145,940 shares of the financial services provider's stock, valued at approximately $5,563,000. Clark Capital Management Group Inc. owned approximately 0.09% of Virtu Financial at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Virtu Financial by 243.0% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock worth $30,000 after buying an additional 554 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Virtu Financial during the first quarter worth approximately $32,000. Penserra Capital Management LLC acquired a new position in Virtu Financial in the first quarter valued at approximately $54,000. SBI Securities Co. Ltd. increased its stake in Virtu Financial by 26.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 345 shares during the last quarter. Finally, Krane Funds Advisors LLC purchased a new position in Virtu Financial in the first quarter valued at approximately $213,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Virtu Financial
In related news, COO Brett Fairclough sold 90,701 shares of Virtu Financial stock in a transaction 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 document filed with the SEC, which is available through the SEC website. 47.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on VIRT. UBS Group restated a "neutral" rating and set a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Morgan Stanley boosted their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. Piper Sandler raised their price objective on Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen cut Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Bank of America downgraded Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a report on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Virtu Financial presently has an average rating of "Hold" and a consensus target price of $39.75.
Check Out Our Latest Research Report on VIRT
Virtu Financial Stock Performance
Shares of NASDAQ VIRT traded down $0.42 during midday trading on Tuesday, reaching $38.08. 1,502,634 shares of the company were exchanged, compared to its average volume of 955,524. The stock has a market cap of $5.82 billion, a P/E ratio of 11.00, a PEG ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 1 year low of $29.82 and a 1 year high of $45.77. The stock has a fifty day simple moving average of $42.83 and a 200 day simple moving average of $40.44. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11.
Virtu Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 29th. Virtu Financial's dividend payout ratio is 21.82%.
About Virtu Financial
(
Free Report)
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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