Hahn Capital Management LLC Decreases Stock Position in Virtu Financial, Inc. $VIRT

Key Points

• Hahn Capital Management LLC has reduced its stake in Virtu Financial by 9.7%, now holding 312,426 shares valued at approximately $11.9 million.
• Virtu Financial declared a quarterly dividend of $0.24 per share, with a dividend yield of 2.6%, to be paid on September 15th.
• Analyst ratings for Virtu Financial vary, with a consensus rating of "Hold" and an average price target of $39.75.

Hahn Capital Management LLC trimmed its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,426 shares of the financial services provider's stock after selling 33,561 shares during the period. Virtu Financial makes up 5.8% of Hahn Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Hahn Capital Management LLC owned approximately 0.20% of Virtu Financial worth $11,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group grew its stake in shares of Virtu Financial by 243.0% in the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock worth $30,000 after acquiring an additional 554 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Virtu Financial during the 1st quarter worth about $32,000. Jones Financial Companies Lllp raised its position in shares of Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock valued at $38,000 after buying an additional 942 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Virtu Financial in the first quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. grew its position in Virtu Financial by 26.0% during the first 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 in the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Brett Fairclough sold 90,701 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 47.20% of the company's stock.

Virtu Financial Price Performance

Shares of VIRT traded down $0.10 during mid-day trading on Wednesday, reaching $35.30. The company had a trading volume of 216,249 shares, compared to its average volume of 965,074. Virtu Financial, Inc. has a twelve month low of $29.82 and a twelve month high of $45.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The company's 50-day moving average is $41.97 and its 200-day moving average is $40.46. The company has a market capitalization of $5.40 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.14 and a beta of 0.69.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Virtu Financial's dividend payout ratio is presently 21.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VIRT shares. Morgan Stanley upped their price target on 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 Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Finally, Piper Sandler lifted their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.75.

Virtu Financial 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.