Gallacher Capital Management LLC Takes $549,000 Position in Virtu Financial, Inc. $VIRT

Key Points

• Gallacher Capital Management LLC has acquired a new position in Virtu Financial, purchasing 12,258 shares valued at approximately $549,000.
• Several institutional investors increased their stakes in Virtu Financial during the first quarter, with Invesco Ltd. holding 1,473,165 shares and boosting its holdings by 83.6%.
• Virtu Financial has announced a quarterly dividend of $0.24 per share, with the ex-dividend date set for August 29th.

Gallacher Capital Management LLC bought a new stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,258 shares of the financial services provider's stock, valued at approximately $549,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. boosted its holdings in Virtu Financial by 83.6% during the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider's stock worth $56,157,000 after buying an additional 670,774 shares in the last quarter. Nuveen LLC purchased a new stake in Virtu Financial during the first quarter worth about $18,956,000. AQR Capital Management LLC boosted its holdings in Virtu Financial by 50.9% during the first quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider's stock worth $49,764,000 after buying an additional 445,586 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Virtu Financial by 69.5% during the first quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider's stock worth $40,522,000 after buying an additional 435,958 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Virtu Financial during the first quarter worth about $9,918,000. Hedge funds and other institutional investors own 45.78% of the company's stock.

Analyst Ratings Changes

VIRT has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Piper Sandler lifted their target price on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, UBS Group restated a "neutral" rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research report 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $39.75.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $36.66 on Monday. The firm has a 50 day simple moving average of $42.29 and a 200-day simple moving average of $40.50. 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 firm has a market cap of $5.60 billion, a PE ratio of 10.59, a P/E/G 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.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. Virtu Financial's dividend payout ratio is presently 21.82%.

Insider Activity

In other news, COO Brett Fairclough sold 90,701 shares of the 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 Securities & Exchange Commission, which is accessible through this hyperlink. 47.20% of the stock is owned by insiders.

Virtu Financial 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.

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