USA Financial Formulas lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 92.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 848 shares of the financial services provider's stock after selling 10,237 shares during the quarter. USA Financial Formulas' holdings in Virtu Financial were worth $32,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in Virtu Financial by 28.2% during the 4th quarter. FMR LLC now owns 6,375,783 shares of the financial services provider's stock valued at $227,488,000 after acquiring an additional 1,401,688 shares during the period. Balyasny Asset Management L.P. purchased a new position in Virtu Financial during the 4th quarter valued at $39,993,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Virtu Financial by 180.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 948,590 shares of the financial services provider's stock worth $33,846,000 after buying an additional 609,821 shares during the period. Northern Trust Corp lifted its holdings in shares of Virtu Financial by 48.2% in the 4th quarter. Northern Trust Corp now owns 1,448,866 shares of the financial services provider's stock worth $51,696,000 after buying an additional 471,526 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Virtu Financial in the 4th quarter worth $12,196,000. Institutional investors own 45.78% of the company's stock.
Analysts Set New Price Targets
VIRT has been the subject of several research reports. UBS Group reiterated a "neutral" rating and issued a $40.00 target price (up from $38.00) on shares of Virtu Financial in a report on Thursday, April 24th. Wall Street Zen cut Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Evercore ISI upped their price objective on Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Bank of America cut Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research note on Thursday, May 15th. Finally, Morgan Stanley upped their target price on Virtu Financial from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $37.25.
Get Our Latest Stock Analysis on VIRT
Insider Buying and Selling
In other Virtu Financial news, CEO Douglas A. Cifu sold 178,320 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $38.57, for a total value of $6,877,802.40. Following the sale, the chief executive officer now directly owns 408,867 shares of the company's stock, valued at approximately $15,770,000.19. This trade represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Nixon sold 6,965 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total value of $298,241.30. Following the completion of the transaction, the director now owns 33,923 shares in the company, valued at approximately $1,452,582.86. This trade represents a 17.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,846 shares of company stock valued at $14,079,615 over the last ninety days. Company insiders own 47.20% of the company's stock.
Virtu Financial Stock Performance
Shares of VIRT stock traded down $0.01 during mid-day trading on Friday, reaching $41.12. The stock had a trading volume of 782,141 shares, compared to its average volume of 1,149,166. The business's fifty day moving average is $39.97 and its 200-day moving average is $37.98. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.43 and a beta of 0.68. Virtu Financial, Inc. has a 1-year low of $21.59 and a 1-year high of $44.58.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $0.99 by $0.31. The firm had revenue of $497.14 million for the quarter, compared to analyst estimates of $444.23 million. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. Virtu Financial's revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, research analysts forecast that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.
Virtu Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, May 30th. Virtu Financial's dividend payout ratio (DPR) is 27.75%.
About Virtu Financial
(
Free Report)
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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