Janney Montgomery Scott LLC increased its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 66.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,893 shares of the financial services provider's stock after purchasing an additional 26,756 shares during the quarter. Janney Montgomery Scott LLC's holdings in Virtu Financial were worth $2,996,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Voya Investment Management LLC lifted its holdings in Virtu Financial by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 10,002 shares of the financial services provider's stock worth $381,000 after buying an additional 270 shares during the last quarter. Foundry Partners LLC lifted its holdings in Virtu Financial by 1.5% during the 1st quarter. Foundry Partners LLC now owns 18,031 shares of the financial services provider's stock worth $687,000 after buying an additional 275 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in Virtu Financial by 0.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider's stock worth $1,273,000 after buying an additional 281 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Virtu Financial by 26.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after buying an additional 345 shares during the last quarter. Finally, Optimist Retirement Group LLC lifted its holdings in Virtu Financial by 4.6% during the 1st quarter. Optimist Retirement Group LLC now owns 8,146 shares of the financial services provider's stock worth $311,000 after buying an additional 355 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have issued reports on VIRT. UBS Group reaffirmed a "neutral" rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Piper Sandler boosted their target price on Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group reduced their target price on Virtu Financial from $48.00 to $38.00 and set a "neutral" rating for the company in a report on Monday. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Virtu Financial presently has an average rating of "Hold" and a consensus target price of $41.43.
Check Out Our Latest Report on Virtu Financial
Virtu Financial Stock Performance
NASDAQ VIRT opened at $32.81 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The business's 50 day moving average is $38.93 and its two-hundred day moving average is $40.24. Virtu Financial, Inc. has a 12-month low of $29.82 and a 12-month high of $45.77. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.14 and a beta of 0.62.
Virtu Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.9%. Virtu Financial's payout ratio is presently 21.82%.
Insider Buying and Selling at Virtu Financial
In related news, COO Brett Fairclough sold 90,701 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 47.20% of the stock is currently owned by corporate insiders.
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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