QRG Capital Management Inc. Purchases 28,720 Shares of Virtu Financial, Inc. $VIRT

Key Points

• QRG Capital Management Inc. increased its holdings in Virtu Financial, Inc. by 123.6% during the second quarter, acquiring an additional 28,720 shares, bringing its total ownership to 51,959 shares valued at approximately $2.3 million.
• Virtu Financial has declared a quarterly dividend of $0.24, translating to an annualized amount of $0.96 and a dividend yield of 3.0%.
• The company has a market capitalization of $4.94 billion, with analysts rating the stock as a consensus "Hold" and setting a price target averaging around $40.88.

QRG Capital Management Inc. grew its holdings in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 123.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,959 shares of the financial services provider's stock after buying an additional 28,720 shares during the quarter. QRG Capital Management Inc.'s holdings in Virtu Financial were worth $2,327,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Voya Investment Management LLC increased its stake in Virtu Financial by 2.8% in the first quarter. Voya Investment Management LLC now owns 10,002 shares of the financial services provider's stock valued at $381,000 after acquiring an additional 270 shares during the period. Foundry Partners LLC boosted its holdings in Virtu Financial by 1.5% during the first quarter. Foundry Partners LLC now owns 18,031 shares of the financial services provider's stock valued at $687,000 after purchasing an additional 275 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Virtu Financial by 0.8% during the first quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider's stock valued at $1,273,000 after purchasing an additional 281 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in 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 valued at $64,000 after purchasing an additional 345 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its position in shares of Virtu Financial by 4.6% during the 1st quarter. Optimist Retirement Group LLC now owns 8,146 shares of the financial services provider's stock worth $311,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 45.78% of the company's stock.

Virtu Financial Trading Down 0.3%

Shares of NASDAQ VIRT opened at $32.31 on Wednesday. Virtu Financial, Inc. has a 1-year low of $29.82 and a 1-year high of $45.77. The company has a market cap of $4.94 billion, a PE ratio of 9.34, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $39.17 and a two-hundred day moving average of $40.29.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Virtu Financial's dividend payout ratio (DPR) is currently 21.82%.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction on Thursday, August 7th. The stock was 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 can be accessed through this hyperlink. Insiders own 47.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VIRT. UBS Group reiterated a "neutral" rating and set a $45.00 price objective (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. 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 report on Tuesday, July 15th. Piper Sandler boosted their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Virtu Financial from $48.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday. Two 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.88.

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.

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