Concurrent Investment Advisors LLC Takes $347,000 Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Concurrent Investment Advisors LLC acquired a new position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,115 shares of the financial services provider's stock, valued at approximately $347,000.

A number of other hedge funds also recently added to or reduced their stakes in VIRT. FMR LLC lifted its position in shares of Virtu Financial by 28.2% during the fourth quarter. FMR LLC now owns 6,375,783 shares of the financial services provider's stock valued at $227,488,000 after buying an additional 1,401,688 shares during the last quarter. Northern Trust Corp lifted its position in shares of Virtu Financial by 48.2% during the fourth quarter. Northern Trust Corp now owns 1,448,866 shares of the financial services provider's stock valued at $51,696,000 after buying an additional 471,526 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Virtu Financial during the fourth quarter valued at about $39,993,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Virtu Financial by 180.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 948,590 shares of the financial services provider's stock valued at $33,846,000 after buying an additional 609,821 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Virtu Financial by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 930,110 shares of the financial services provider's stock valued at $35,856,000 after buying an additional 95,692 shares during the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John Nixon sold 6,965 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total transaction of $298,241.30. Following the sale, the director owned 33,923 shares of the company's stock, valued at $1,452,582.86. This trade represents a 17.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas A. Cifu sold 177,561 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $38.88, for a total transaction of $6,903,571.68. Following the sale, the chief executive officer directly owned 231,306 shares in the company, valued at $8,993,177.28. The trade was a 43.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,846 shares of company stock worth $14,079,615 in the last ninety days. Corporate insiders own 47.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on VIRT. Evercore ISI increased their price target on shares of Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. increased their price objective on shares of Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Bank of America lowered shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research report on Thursday, May 15th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $40.00 price objective (up from $38.00) on shares of Virtu Financial in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Virtu Financial presently has a consensus rating of "Hold" and a consensus target price of $37.25.

Virtu Financial Stock Performance

VIRT opened at $43.94 on Friday. Virtu Financial, Inc. has a 12-month low of $22.50 and a 12-month high of $45.12. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $6.78 billion, a PE ratio of 12.70, a P/E/G ratio of 1.14 and a beta of 0.70. The firm has a 50 day moving average of $42.17 and a two-hundred day moving average of $38.93.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.31. The business had revenue of $497.14 million for the quarter, compared to analysts' expectations of $444.23 million. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business's revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.18%. Virtu Financial's payout ratio is 27.75%.

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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