Virtu Financial, Inc. $VIRT Stake Boosted by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Virtu Financial stake by 7.1% in the third quarter, adding 170,518 shares to hold about 2.56 million shares, valued at $142.2 million.
• Virtu reported quarterly EPS of $1.77, beating the $1.52 consensus, while revenue reached $956.4 million—well above estimates and up 147.1% year over year.
• The company declared a quarterly dividend of $0.24 per share ($0.96 annualized; 1.8% yield). Analysts’ average rating is Hold, with an average price target of $68.25.

Allspring Global Investments Holdings LLC lifted its stake in shares of Virtu Financial, Inc. (NYSE:VIRT - Free Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,556,727 shares of the company's stock after buying an additional 170,518 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.65% of Virtu Financial worth $142,205,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Provenance Wealth Advisors LLC acquired a new position in Virtu Financial during the 3rd quarter worth approximately $26,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Virtu Financial in the 3rd quarter valued at approximately $42,000. State of Wyoming purchased a new stake in shares of Virtu Financial in the 3rd quarter valued at approximately $66,000. Root Financial Partners LLC acquired a new stake in shares of Virtu Financial in the 3rd quarter valued at $69,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Virtu Financial in the 2nd quarter valued at $88,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Virtu Financial Stock Up 0.3%

VIRT stock opened at $54.05 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.49 and a debt-to-equity ratio of 1.01. Virtu Financial, Inc. has a twelve month low of $31.55 and a twelve month high of $68.76. The company's 50 day moving average is $57.63 and its two-hundred day moving average is $52.43. The stock has a market cap of $8.39 billion, a P/E ratio of 7.94, a PEG ratio of 0.39 and a beta of 0.67.

Virtu Financial (NYSE:VIRT - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.25. The business had revenue of $956.39 million during the quarter, compared to analysts' expectations of $647.02 million. Virtu Financial had a net margin of 14.20% and a return on equity of 49.68%. The company's revenue for the quarter was up 147.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. Research analysts expect that Virtu Financial, Inc. will post 6.46 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, December 1st. Virtu Financial's dividend payout ratio is currently 14.10%.

Insider Buying and Selling at Virtu Financial

In other news, Director John Nixon sold 9,094 shares of Virtu Financial stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $60.13, for a total transaction of $546,822.22. Following the sale, the director owned 30,902 shares in the company, valued at approximately $1,858,137.26. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Grano, Jr. sold 8,400 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $60.94, for a total value of $511,896.00. Following the completion of the sale, the director directly owned 33,814 shares of the company's stock, valued at $2,060,625.16. The trade was a 19.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 46.76% of the company's stock.

Virtu Financial News Summary

Here are the key news stories impacting Virtu Financial this week:

• Positive Sentiment: Q3 earnings were $1.77 per share, ahead of the $1.52 analyst consensus, while revenue of $956.4 million substantially exceeded estimates of about $647 million and rose 147.1% year over year. The earnings beat and sharp revenue growth may support investor optimism. Virtu Financial Surpasses Q3 Earnings and Revenue Estimates
• Neutral Sentiment: Virtu maintained its quarterly dividend at $0.24 per share, equivalent to $0.96 annually and a stated yield of 1.8%. It also outlined a near-term trading-capital goal of around $4 billion or more; the available report does not detail the expected financial impact of that target. Virtu outlines trading capital goal and dividend

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VIRT. Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Piper Sandler reissued an "overweight" rating on shares of Virtu Financial in a report on Friday, October 2nd. Weiss Ratings restated a "buy (b-)" rating on shares of Virtu Financial in a research note on Wednesday, August 26th. Zacks Research downgraded Virtu Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 24th. Finally, Morgan Stanley lowered their price objective on Virtu Financial from $57.00 to $56.00 and set an "underweight" rating for the company in a research report on Friday, October 9th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $68.25.

Virtu Financial Profile

Virtu Financial, Inc is a financial technology firm and electronic market maker that provides liquidity across a range of global financial markets. The company uses technology and quantitative analysis to facilitate trading in asset classes including equities, exchange-traded funds, options, futures, currencies, fixed income and commodities.

In addition to market making, Virtu offers execution services and trading technology for institutional investors, broker-dealers and other market participants.

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