VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 65,338 Virtu Financial, Inc. $VIRT

Key Points

• The Virginia Retirement Systems purchased 65,338 shares of Virtu Financial, Inc. for approximately $2,926,000 in the 2nd quarter.
• Insider COO Brett Fairclough sold 90,701 shares at an average price of $42.40, totaling around $3.85 million.
• Virtu Financial declared a quarterly dividend of $0.24 per share, representing a yield of 2.9% with a payout ratio of 21.82%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 65,338 shares of the financial services provider's stock, valued at approximately $2,926,000.

Several other hedge funds have also recently made changes to their positions in VIRT. GAMMA Investing LLC boosted its holdings in shares of Virtu Financial by 20.0% in the 1st quarter. GAMMA Investing LLC now owns 6,824 shares of the financial services provider's stock worth $260,000 after purchasing an additional 1,138 shares during the period. State of Alaska Department of Revenue boosted its holdings in Virtu Financial by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 67,877 shares of the financial services provider's stock valued at $2,586,000 after acquiring an additional 807 shares during the period. TrueMark Investments LLC purchased a new position in Virtu Financial during the 1st quarter valued at $281,000. Lecap Asset Management Ltd. purchased a new position in Virtu Financial during the 1st quarter valued at $988,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Virtu Financial by 56.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 175,181 shares of the financial services provider's stock valued at $6,678,000 after acquiring an additional 62,987 shares during the period. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the company's stock in a transaction dated 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 SEC, which is available at this hyperlink. 47.20% of the stock is owned by insiders.

Virtu Financial Stock Down 0.7%

Virtu Financial stock opened at $32.99 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. The business's 50-day simple moving average is $37.39 and its two-hundred day simple moving average is $40.00. The company has a market cap of $5.04 billion, a PE ratio of 9.53, a PEG ratio of 1.14 and a beta of 0.62. Virtu Financial, Inc. has a fifty-two week low of $29.82 and a fifty-two week high of $45.77.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share for the quarter. The business had revenue of $274.00 million for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. Equities analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, August 29th. Virtu Financial's payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VIRT shares. The Goldman Sachs Group decreased their target price on Virtu Financial from $48.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Piper Sandler boosted their target price on Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. UBS Group restated a "neutral" rating and set a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Finally, Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.43.

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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