New Age Alpha Advisors LLC Trims Stake in Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in Virtu Financial by 65.9%, leaving it with 4,131 shares valued at approximately $157,000.
• Several other institutional investors increased their positions in Virtu Financial, with Northern Trust Corp growing its holdings by 48.2% to over 1.4 million shares valued at $51.7 million.
• Virtu Financial announced a quarterly dividend of $0.24 per share, reflecting a 2.3% yield, with the dividend set to be paid on September 15th to investors of record as of September 1st.

New Age Alpha Advisors LLC reduced its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 65.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,131 shares of the financial services provider's stock after selling 7,970 shares during the quarter. New Age Alpha Advisors LLC's holdings in Virtu Financial were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Penserra Capital Management LLC bought a new position in shares of Virtu Financial during the first quarter worth $54,000. Vontobel Holding Ltd. bought a new position in shares of Virtu Financial during the first quarter worth $231,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Virtu Financial by 3,319.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,635 shares of the financial services provider's stock worth $405,000 after acquiring an additional 10,324 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Virtu Financial by 2.4% during the first quarter. Principal Financial Group Inc. now owns 401,117 shares of the financial services provider's stock worth $15,291,000 after acquiring an additional 9,569 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Virtu Financial during the fourth quarter worth $954,000. 45.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Virtu Financial

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 sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 46.70% of the company's stock.

Analyst Ratings Changes

VIRT has been the subject of a number of research reports. Morgan Stanley upped 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. Piper Sandler upped 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. Evercore ISI upped their target price on shares of Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $39.75.

Virtu Financial Price Performance

Virtu Financial stock traded down $0.41 during mid-day trading on Friday, reaching $41.42. 56,581 shares of the company's stock traded hands, compared to its average volume of 944,207. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.14 and a beta of 0.69. The stock has a 50 day moving average of $43.12 and a two-hundred day moving average of $40.06. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 12-month low of $28.98 and a 12-month high of $45.77.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid 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 2.3%. Virtu Financial's dividend payout ratio is currently 21.82%.

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.