FJ Capital Management LLC Invests $2.63 Million in Virtu Financial, Inc. $VIRT

Key Points

• FJ Capital Management LLC has acquired 69,107 shares of Virtu Financial, valued at approximately $2.63 million, reflecting increased institutional interest in the company.
• Several other large investors, including Northern Trust Corp and AQR Capital Management LLC, also increased their stakes in Virtu Financial during the fourth quarter.
• Research analysts have mixed ratings for Virtu Financial, with a consensus rating of "Hold" and an average target price of $39.75, while Piper Sandler has set a higher target at $48.00.

FJ Capital Management LLC purchased a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 69,107 shares of the financial services provider's stock, valued at approximately $2,634,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group lifted its position in shares of Virtu Financial by 243.0% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 554 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Virtu Financial in the first quarter valued at $32,000. Penserra Capital Management LLC purchased a new stake in shares of Virtu Financial in the first quarter valued at $54,000. SBI Securities Co. Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Virtu Financial during the fourth quarter worth $203,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Insider Activity

In other Virtu Financial 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 sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 47.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VIRT shares. Morgan Stanley increased their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research 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 target price for the company. in a research note on Thursday, May 15th. Piper Sandler raised their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, UBS Group reiterated a "neutral" rating and issued a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.75.

Virtu Financial Stock Performance

Shares of VIRT stock traded up $0.11 on Wednesday, reaching $41.46. The stock had a trading volume of 530,340 shares, compared to its average volume of 940,495. The firm's 50-day moving average is $43.13 and its two-hundred day moving average is $40.35. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77.

Virtu Financial Dividend Announcement

The company also recently declared 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 is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Virtu Financial's dividend payout ratio (DPR) is currently 21.82%.

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.