Virtu Financial, Inc. (NASDAQ:VIRT) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,303 shares of the financial services provider's stock after selling 8,691 shares during the period. State of Tennessee Department of Treasury's holdings in Virtu Financial were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Barclays PLC increased its position in Virtu Financial by 60.2% during the third quarter. Barclays PLC now owns 55,486 shares of the financial services provider's stock valued at $1,691,000 after acquiring an additional 20,843 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in Virtu Financial in the third quarter worth about $244,000. Franklin Resources Inc. raised its stake in Virtu Financial by 65.0% during the 3rd quarter. Franklin Resources Inc. now owns 247,969 shares of the financial services provider's stock worth $8,109,000 after acquiring an additional 97,697 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Virtu Financial by 48.6% in the third quarter. JPMorgan Chase & Co. now owns 358,065 shares of the financial services provider's stock worth $10,907,000 after purchasing an additional 117,062 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Virtu Financial by 135.9% in the fourth quarter. GAMMA Investing LLC now owns 5,686 shares of the financial services provider's stock worth $203,000 after acquiring an additional 3,276 shares during the period. Institutional investors own 45.78% of the company's stock.

Analyst Ratings Changes

VIRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. UBS Group reissued a "neutral" rating and issued a $40.00 price objective (up from $38.00) on shares of Virtu Financial in a research note on Thursday, April 24th. Evercore ISI upped their target price on shares of Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Piper Sandler increased their price target on Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective on shares of Virtu Financial from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $37.88.

Virtu Financial Trading Down 0.6 %

Virtu Financial stock traded down $0.27 during midday trading on Tuesday, reaching $41.67. 78,318 shares of the stock traded hands, compared to its average volume of 1,183,455. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market cap of $6.46 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The company has a 50-day simple moving average of $37.28 and a two-hundred day simple moving average of $36.52. Virtu Financial, Inc. has a 12-month low of $21.55 and a 12-month high of $42.31.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.31. The business had revenue of $497.14 million for the quarter, compared to analyst estimates of $444.23 million. Virtu Financial had a net margin of 9.61% and a return on equity of 27.39%. The company's revenue was up 30.3% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. Research analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 30th. Virtu Financial's payout ratio is currently 27.75%.

Insider Transactions at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 72,967 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $36.84, for a total value of $2,688,104.28. Following the sale, the chief operating officer now owns 90,749 shares of the company's stock, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Cavoli sold 34,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $36.88, for a total transaction of $1,253,920.00. Following the completion of the sale, the executive vice president now owns 191,703 shares in the company, valued at $7,070,006.64. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,848 shares of company stock worth $18,995,338 over the last 90 days. 46.70% of the stock is currently owned by insiders.

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.