Vident Advisory LLC Lowers Stock 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 trimmed its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 42.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in 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 acquiring an additional 670,774 shares during the period. Nuveen LLC bought a new position in Virtu Financial in the 1st quarter worth about $18,956,000. Allianz Asset Management GmbH grew its position 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 during the last quarter. GAMMA Investing LLC grew its position in Virtu Financial by 4,474.9% in the 1st quarter. GAMMA Investing LLC now owns 260,131 shares of the financial services provider's stock worth $9,916,000 after purchasing an additional 254,445 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Virtu Financial by 64.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 491,339 shares of the financial services provider's stock worth $18,730,000 after purchasing an additional 191,741 shares during the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction dated 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 available through this link. Company insiders own 47.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on VIRT shares. Bank of America cut shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a report on Thursday, May 15th. Morgan Stanley increased their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Piper Sandler increased their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, UBS Group reiterated a "neutral" rating and issued a $45.00 price objective (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.75.

Virtu Financial Stock Down 1.2%

VIRT stock opened at $38.44 on Tuesday. Virtu Financial, Inc. has a 12-month low of $29.82 and a 12-month high of $45.77. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.14 and a beta of 0.69. The company has a 50 day moving average of $42.83 and a two-hundred day moving average of $40.44.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 29th. Virtu Financial's payout ratio is 21.82%.

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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