Redwood Investment Management LLC Acquires Shares of 34,481 Virtu Financial, Inc. $VIRT

Key Points

• Redwood Investment Management LLC acquired 34,481 shares of Virtu Financial, valued at approximately $1.31 million, during the first quarter of the year.
• Virtu Financial recently announced a quarterly dividend of $0.24 per share, with an annualized yield of 2.2%, and a dividend payout ratio of 21.82%.
• Multiple analysts have downgraded their ratings on Virtu Financial, with the stock currently holding a consensus rating of "Hold" and a target price of $39.75.

Redwood Investment Management LLC acquired a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,481 shares of the financial services provider's stock, valued at approximately $1,314,000.

A number of other hedge funds also recently made changes to their positions in VIRT. Brooklyn Investment Group raised its position in shares of Virtu Financial by 243.0% during the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock worth $30,000 after acquiring an additional 554 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Virtu Financial in the first quarter worth approximately $32,000. Penserra Capital Management LLC bought a new stake in Virtu Financial in the first quarter worth approximately $54,000. SBI Securities Co. Ltd. increased its holdings in Virtu Financial by 26.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after purchasing an additional 345 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in Virtu Financial in the fourth quarter worth approximately $203,000. 45.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VIRT shares. Bank of America downgraded 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. Wall Street Zen downgraded Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Piper Sandler boosted their price objective on Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley boosted their price objective on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Finally, UBS Group restated a "neutral" rating and set a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $39.75.

Virtu Financial Stock Down 1.3%

Shares of NASDAQ:VIRT traded down $0.55 during mid-day trading on Friday, hitting $41.84. 994,469 shares of the company traded hands, compared to its average volume of 943,983. The stock has a market cap of $6.40 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.14 and a beta of 0.69. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 12-month low of $29.82 and a 12-month high of $45.77. The stock has a 50-day moving average price of $43.20 and a two-hundred day moving average price of $40.27.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a dividend of $0.24 per share. 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 payout ratio is presently 21.82%.

Insider Activity

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the company's 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 47.20% of the stock is currently owned by insiders.

About Virtu Financial

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.