Vident Advisory LLC Reduces Position in Virtu Financial, Inc. $VIRT

Key Points

• Vident Advisory LLC reduced its stake in Virtu Financial by 42.3% in the first quarter, holding 9,006 shares valued at approximately $343,000 after selling 6,612 shares.
• Various institutional investors, including Invesco Ltd., which increased its stake by 83.6%, have significantly altered their positions in Virtu Financial during the same period.
• Virtu Financial has announced a quarterly dividend of $0.24 per share, translating to a 2.5% dividend yield and scheduled for payment on September 15th.

Vident Advisory LLC decreased its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,006 shares of the financial services provider's stock after selling 6,612 shares during the period. Vident Advisory LLC's holdings in Virtu Financial were worth $343,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VIRT. Invesco Ltd. raised its position in shares of Virtu Financial by 83.6% during the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider's stock worth $56,157,000 after purchasing an additional 670,774 shares during the period. Nuveen LLC acquired a new position in shares of Virtu Financial during the 1st quarter worth $18,956,000. Allianz Asset Management GmbH increased its holdings in Virtu Financial by 69.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider's stock worth $40,522,000 after purchasing an additional 435,958 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Virtu Financial by 4,474.9% in the first quarter. GAMMA Investing LLC now owns 260,131 shares of the financial services provider's stock valued at $9,916,000 after buying an additional 254,445 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Virtu Financial by 64.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 491,339 shares of the financial services provider's stock valued at $18,730,000 after buying an additional 191,741 shares during the period. Institutional investors own 45.78% of the company's stock.

Virtu Financial Price Performance

Shares of Virtu Financial stock traded down $0.43 during trading on Friday, reaching $36.66. 952,246 shares of the stock traded hands, compared to its average volume of 967,632. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 52-week low of $29.82 and a 52-week high of $45.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day simple moving average of $42.29 and a two-hundred day simple moving average of $40.46.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 29th. Virtu Financial's payout ratio is currently 21.82%.

Insider Buying and Selling at Virtu Financial

In related news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 47.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VIRT. UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Piper Sandler lifted their price target on Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen cut Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Morgan Stanley upped their price target on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Virtu Financial presently has a consensus rating of "Hold" and an average price target of $39.75.

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.