Virtu Financial, Inc. $VIRT Stock: Hahn Capital Management LLC Cuts Stake

Key Points

• Hahn Capital Management cut its Virtu Financial stake by 28.1% in the third quarter, selling 61,665 shares and ending the period with 157,419 shares worth about $8.7 million.
• Institutional investors own 45.78% of Virtu shares, with other funds making both purchases and sales during the quarter. Two Virtu directors also reported stock sales in August.
• Analyst views are mixed: MarketBeat reports an average Hold rating and a $68.25 average price target, based on four Buy, two Hold, and one Sell rating.

Hahn Capital Management LLC trimmed its position in Virtu Financial, Inc. (NYSE:VIRT - Free Report) by 28.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,419 shares of the company's stock after selling 61,665 shares during the quarter. Virtu Financial comprises approximately 5.1% of Hahn Capital Management LLC's holdings, making the stock its 5th biggest position. Hahn Capital Management LLC owned about 0.10% of Virtu Financial worth $8,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Provenance Wealth Advisors LLC bought a new stake in Virtu Financial during the 3rd quarter worth approximately $26,000. Oregon Public Employees Retirement Fund lifted its holdings in Virtu Financial by 1.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 18,781 shares of the company's stock valued at $1,036,000 after purchasing an additional 200 shares in the last quarter. Virtue Capital Management LLC purchased a new position in Virtu Financial during the third quarter valued at approximately $230,000. State of Wyoming bought a new position in Virtu Financial in the 3rd quarter worth $66,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Virtu Financial by 85.7% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 31,200 shares of the company's stock worth $1,721,000 after acquiring an additional 14,400 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Price Performance

NYSE VIRT opened at $53.18 on Thursday. Virtu Financial, Inc. has a 1 year low of $31.55 and a 1 year high of $68.76. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.39 and a beta of 0.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.45 and a quick ratio of 0.45. The stock's fifty day moving average price is $58.12 and its 200 day moving average price is $52.26.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VIRT shares. Wall Street Zen lowered Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Virtu Financial in a research note on Wednesday, August 26th. Evercore raised Virtu Financial to an "outperform" rating in a research report on Monday, October 5th. Piper Sandler reaffirmed an "overweight" rating on shares of Virtu Financial in a research report on Friday, October 2nd. Finally, Morgan Stanley lowered their price objective on shares of Virtu Financial from $57.00 to $56.00 and set an "underweight" rating for the company in a research note on Friday, October 9th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $68.25.

Insider Activity at Virtu Financial

In related news, Director Joseph Grano, Jr. sold 8,400 shares of Virtu Financial stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $60.94, for a total value of $511,896.00. Following the sale, the director directly owned 33,814 shares in the company, valued at approximately $2,060,625.16. The trade was a 19.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Nixon sold 9,094 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $60.13, for a total value of $546,822.22. Following the completion of the sale, the director directly owned 30,902 shares of the company's stock, valued at approximately $1,858,137.26. This represents a 22.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 46.76% of the company's stock.

About Virtu Financial

Virtu Financial, Inc is a global financial services company that provides liquidity, trading, and technology solutions to the financial markets. Through its market-making business, Virtu facilitates trading in a broad range of products, including equities, exchange-traded funds, options, fixed income, foreign exchange, commodities, and certain digital assets.

The company also operates an execution services business that provides trading and workflow technology to institutional investors, asset managers, broker-dealers, and other financial institutions.

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