Hsbc Holdings PLC Sells 57,863 Shares of Virtu Financial, Inc. $VIRT

Key Points

• HSBC Holdings PLC cut its Virtu Financial stake by 57.6% in the fourth quarter, selling 57,863 shares and ending with 42,624 shares valued at about $1.44 million.
• Virtu Financial beat earnings and revenue estimates in its latest quarterly report, posting $2.24 EPS on $786.53 million in revenue, both well above analyst expectations.
• The company also paid a quarterly dividend of $0.24 per share, while analysts currently have a consensus rating of Moderate Buy with an average target price of $53.67.

Hsbc Holdings PLC decreased its position in Virtu Financial, Inc. (NYSE:VIRT - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 42,624 shares of the company's stock after selling 57,863 shares during the quarter. Hsbc Holdings PLC's holdings in Virtu Financial were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Virtu Financial by 103.8% during the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $34,000 after buying an additional 387 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings in shares of Virtu Financial by 480.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company's stock worth $28,000 after acquiring an additional 692 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Virtu Financial by 51.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company's stock worth $35,000 after acquiring an additional 332 shares during the last quarter. Quarry LP bought a new stake in Virtu Financial during the 3rd quarter worth approximately $35,000. Finally, Jones Financial Companies Lllp increased its holdings in Virtu Financial by 1,624.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the company's stock valued at $38,000 after purchasing an additional 942 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company's stock.

Virtu Financial Stock Performance

Shares of NYSE:VIRT opened at $65.83 on Monday. The stock has a market capitalization of $10.21 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.48 and a beta of 0.58. Virtu Financial, Inc. has a 1-year low of $31.55 and a 1-year high of $68.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $56.17 and a two-hundred day moving average price of $46.15.

Virtu Financial (NYSE:VIRT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.58. The company had revenue of $786.53 million for the quarter, compared to analyst estimates of $613.12 million. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The company's revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Equities analysts predict that Virtu Financial, Inc. will post 5.7 earnings per share for the current year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. Virtu Financial's dividend payout ratio is 15.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Virtu Financial from $51.00 to $63.00 and gave the company a "neutral" rating in a research report on Tuesday, June 30th. Zacks Research upgraded Virtu Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Virtu Financial in a report on Friday, May 29th. Wall Street Zen upgraded shares of Virtu Financial from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Morgan Stanley increased their price objective on shares of Virtu Financial from $39.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.67.

Insiders Place Their Bets

In other Virtu Financial news, COO Brett Fairclough sold 30,000 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the transaction, the chief operating officer owned 42,473 shares in the company, valued at approximately $2,126,198.38. This trade represents a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 46.76% of the company's stock.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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