Entropy Technologies LP Acquires New Shares in Virtu Financial, Inc. $VIRT

Key Points

• Entropy Technologies LP has acquired a new position in Virtu Financial, purchasing 10,073 shares valued at approximately $384,000.
• Several institutional investors have also increased their stakes in Virtu Financial, with a combined ownership of 45.78% of the company's stock.
• Virtu Financial recently announced a $0.24 quarterly dividend, with a yield of 2.3%, to be paid on September 15th.

Entropy Technologies LP bought a new stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,073 shares of the financial services provider's stock, valued at approximately $384,000.

Other large investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in shares of Virtu Financial during the 1st quarter valued at $32,000. Penserra Capital Management LLC acquired a new position in Virtu Financial during the first quarter worth about $54,000. SBI Securities Co. Ltd. grew its holdings 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 acquiring an additional 345 shares during the period. Wexford Capital LP acquired a new position in Virtu Financial during the fourth quarter worth about $203,000. Finally, Bayesian Capital Management LP acquired a new position in Virtu Financial during the fourth quarter worth about $210,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VIRT. UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Bank of America cut Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price on the stock. in a report on Thursday, May 15th. Evercore ISI lifted their target price on Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Morgan Stanley lifted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $39.75.

Insider Transactions 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 stock was sold at an average price of $42.40, for a total transaction of $3,845,722.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 47.20% of the company's stock.

Virtu Financial Stock Down 1.2%

VIRT traded down $0.52 during trading on Monday, reaching $41.26. 265,530 shares of the stock traded hands, compared to its average volume of 944,865. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $45.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The stock's 50-day simple moving average is $43.12 and its two-hundred day simple moving average is $40.08.

Virtu Financial Announces Dividend

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

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.