National Bank of Canada FI Sells 109,382 Shares of Virtu Financial, Inc. $VIRT

Key Points

• National Bank of Canada FI reduced its stake in Virtu Financial, Inc. by 72.0% during the first quarter, bringing its holdings to 42,503 shares valued at approximately $1.62 million.
• Virtu Financial has declared a quarterly dividend of $0.24, with a yield of 2.3%, payable on September 15 to shareholders on record as of September 1.
• Analyst ratings for VIRT show a consensus of "Hold" with a price target of $39.75, reflecting various price adjustments by firms such as Morgan Stanley and JPMorgan Chase.

National Bank of Canada FI decreased its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 72.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,503 shares of the financial services provider's stock after selling 109,382 shares during the quarter. National Bank of Canada FI's holdings in Virtu Financial were worth $1,620,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VIRT. Financial Management Professionals Inc. acquired a new position in shares of Virtu Financial during the first quarter worth approximately $32,000. Penserra Capital Management LLC bought a new stake in Virtu Financial during the first quarter worth about $54,000. SBI Securities Co. Ltd. increased its holdings in shares of 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 buying an additional 345 shares in the last quarter. Wexford Capital LP bought a new position in shares of Virtu Financial in the fourth quarter valued at approximately $203,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Virtu Financial in the 4th quarter worth approximately $210,000. 45.78% of the stock is owned by institutional investors.

Virtu Financial Stock Up 0.3%

Shares of VIRT traded up $0.11 on Wednesday, hitting $41.29. The company's stock had a trading volume of 321,772 shares, compared to its average volume of 945,011. The firm's fifty day moving average price is $43.14 and its 200-day moving average price is $40.10. 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 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 $6.31 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.14 and a beta of 0.69.

Virtu Financial Announces Dividend

The business 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. Virtu Financial's payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Piper Sandler increased their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley lifted their target price on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Bank of America lowered shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.75.

Insiders Place Their Bets

In related news, COO Brett Fairclough sold 90,701 shares of the company's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 47.20% of the company's stock.

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.