Virtu Financial, Inc. $VIRT Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN cut its Virtu Financial stake by 24.1% in the first quarter, selling 32,402 shares and ending with 102,065 shares worth about $4.49 million.
• Virtu Financial reported strong quarterly results, posting $2.24 EPS versus the $1.66 estimate and revenue of $786.53 million, up 30.7% from a year earlier.
• Analyst sentiment remains mixed but generally positive, with a consensus Moderate Buy and a consensus price target of $48.67; the stock also recently paid a quarterly dividend of $0.24 per share.

OLD National Bancorp IN reduced its holdings in Virtu Financial, Inc. (NYSE:VIRT - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,065 shares of the company's stock after selling 32,402 shares during the period. OLD National Bancorp IN owned about 0.07% of Virtu Financial worth $4,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Virtu Financial by 2.2% during the fourth quarter. NewEdge Advisors LLC now owns 12,939 shares of the company's stock valued at $431,000 after purchasing an additional 275 shares in the last quarter. Optimist Retirement Group LLC raised its holdings in shares of Virtu Financial by 3.5% during the fourth quarter. Optimist Retirement Group LLC now owns 8,277 shares of the company's stock valued at $276,000 after acquiring an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Virtu Financial by 18.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,868 shares of the company's stock valued at $62,000 after acquiring an additional 291 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Virtu Financial by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,237 shares of the company's stock valued at $608,000 after acquiring an additional 300 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Virtu Financial by 51.9% in the third quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company's stock valued at $35,000 after acquiring an additional 332 shares in the last quarter. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Virtu Financial from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Wall Street Zen lowered Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Virtu Financial in a research note on Friday, May 29th. Zacks Research raised shares of Virtu Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group upped their target price on shares of Virtu Financial from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.67.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 30,000 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $50.06, for a total value of $1,501,800.00. Following the completion of the transaction, the chief operating officer owned 42,473 shares in the company, valued at $2,126,198.38. The trade was a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 46.76% of the stock is owned by corporate insiders.

Virtu Financial Trading Down 0.8%

NYSE VIRT opened at $60.54 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $9.39 billion, a P/E ratio of 10.02, a PEG ratio of 1.50 and a beta of 0.61. The firm's 50-day moving average is $53.49 and its two-hundred day moving average is $44.08. Virtu Financial, Inc. has a 12 month low of $31.55 and a 12 month high of $64.88.

Virtu Financial (NYSE:VIRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $1.66 by $0.58. The business had revenue of $786.53 million during the quarter, compared to analyst estimates of $613.12 million. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The business's revenue for the quarter was up 30.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. On average, sell-side analysts anticipate that Virtu Financial, Inc. will post 5.7 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. Virtu Financial's dividend payout ratio (DPR) is currently 15.89%.

Virtu Financial Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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