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Connor Clark & Lunn Investment Management Ltd. Increases Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Virtu Financial logo with Finance background

Key Points

  • Connor Clark & Lunn Investment Management Ltd. has increased its holdings in Virtu Financial, Inc. by 64.0%, owning 491,339 shares valued at approximately $18.73 million after purchasing an additional 191,741 shares in the first quarter.
  • Virtu Financial recently declared a quarterly dividend of $0.24 per share, which will be paid on September 15th, with an annualized yield of 2.3%.
  • Wall Street analysts' ratings for Virtu Financial include one sell, six hold, and two buy ratings, with an average price target of $39.75.
  • Looking to Export and Analyze Virtu Financial Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 64.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 491,339 shares of the financial services provider's stock after purchasing an additional 191,741 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Virtu Financial worth $18,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Measured Wealth Private Client Group LLC grew its holdings in Virtu Financial by 23.0% in the first quarter. Measured Wealth Private Client Group LLC now owns 19,059 shares of the financial services provider's stock worth $727,000 after purchasing an additional 3,561 shares during the period. Townsquare Capital LLC grew its holdings in shares of Virtu Financial by 2.1% during the first quarter. Townsquare Capital LLC now owns 25,768 shares of the financial services provider's stock valued at $982,000 after buying an additional 538 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Virtu Financial during the first quarter valued at approximately $6,499,000. Vanguard Group Inc. grew its holdings in shares of Virtu Financial by 1.8% during the first quarter. Vanguard Group Inc. now owns 9,568,548 shares of the financial services provider's stock valued at $364,753,000 after buying an additional 165,396 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Virtu Financial by 3.9% during the first quarter. Bank of Nova Scotia now owns 10,379 shares of the financial services provider's stock valued at $396,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company's stock.

Virtu Financial Stock Down 0.0%

Shares of Virtu Financial stock opened at $42.44 on Friday. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The company's 50 day moving average is $43.02 and its 200 day moving average is $39.98. Virtu Financial, Inc. has a twelve month low of $28.14 and a twelve month high of $45.77. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given 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 presently 21.82%.

Insider Activity at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the 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 SEC, which can be accessed through this hyperlink. Also, Director John Nixon sold 6,965 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total transaction of $298,241.30. Following the completion of the transaction, the director owned 33,923 shares in the company, valued at $1,452,582.86. The trade was a 17.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 47.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VIRT shares. Piper Sandler increased their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Bank of America cut 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. UBS Group reiterated a "neutral" rating and set a $45.00 price target (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. 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 report on Thursday, April 24th. Finally, 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. One 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $39.75.

Get Our Latest Research Report on Virtu Financial

Virtu Financial Company Profile

(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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Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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