Virtu Financial, Inc. (NASDAQ:VIRT) Short Interest Up 243.4% in July

Key Points

• Short interest in Virtu Financial surged by 243.4% in July, reaching a total of 2,740,000 shares, accounting for 3.4% of the company's shares sold short.
• JPMorgan Chase raised the price target for Virtu Financial to $39.00, while the stock has an average target price consensus of $39.13 from analysts.
• Virtu Financial will pay a quarterly dividend of $0.24 per share on September 15, 2014, translating to an annualized dividend yield of 2.2%.

Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 2,740,000 shares, agrowthof243.4% from the June 30th total of 797,800 shares. Based on an average daily trading volume, of 898,900 shares, the days-to-cover ratio is presently 3.0 days. Currently,3.4% of the company's stock are sold short. Currently,3.4% of the company's stock are sold short. Based on an average daily trading volume, of 898,900 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VIRT. Bank of America downgraded shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research report on Thursday, May 15th. Wall Street Zen downgraded Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Evercore ISI upped their target price on Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Morgan Stanley upped their price objective on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.75.

Insider Transactions at Virtu Financial

In related news, Director John Nixon sold 6,965 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total transaction of $298,241.30. Following the sale, the director directly owned 33,923 shares of the company's stock, valued at approximately $1,452,582.86. This represents a 17.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 47.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Virtu Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. raised its holdings in shares of Virtu Financial by 96.0% in the 2nd quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider's stock worth $26,000 after purchasing an additional 285 shares in the last quarter. Brooklyn Investment Group increased its holdings 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 valued at $30,000 after buying an additional 554 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Virtu Financial in the first quarter valued at $32,000. Jones Financial Companies Lllp lifted its position in shares of Virtu Financial by 1,624.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 942 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Virtu Financial in the 1st quarter worth $54,000. 45.78% of the stock is owned by institutional investors and hedge funds.

Virtu Financial Price Performance

NASDAQ VIRT traded down $0.31 on Wednesday, reaching $42.58. 246,402 shares of the stock traded hands, compared to its average volume of 951,453. Virtu Financial has a 12 month low of $27.50 and a 12 month high of $45.77. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.14 and a beta of 0.69. The firm's fifty day simple moving average is $42.91 and its 200 day simple moving average is $39.87. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a $0.24 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.3%. Virtu Financial's payout ratio is 21.82%.

Virtu Financial Company 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.