Van Berkom & Associates Inc. boosted its holdings in shares of Virtu Financial Inc (NASDAQ:VIRT) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,863,015 shares of the financial services provider’s stock after buying an additional 86,417 shares during the period. Virtu Financial comprises 3.0% of Van Berkom & Associates Inc.’s portfolio, making the stock its 2nd largest holding. Van Berkom & Associates Inc. owned approximately 2.05% of Virtu Financial worth $102,563,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in shares of Virtu Financial in the 2nd quarter valued at $125,000. Strs Ohio acquired a new stake in shares of Virtu Financial in the 2nd quarter valued at $201,000. State of Wisconsin Investment Board acquired a new stake in shares of Virtu Financial in the 2nd quarter valued at $203,000. Lucia Wealth Services LLC acquired a new stake in shares of Virtu Financial in the 1st quarter valued at $206,000. Finally, Successful Portfolios LLC acquired a new stake in shares of Virtu Financial in the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 30.03% of the company’s stock.
VIRT has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research note on Wednesday, July 18th. Jefferies Financial Group initiated coverage on shares of Virtu Financial in a research note on Wednesday, May 23rd. They issued a “buy” rating and a $37.00 target price on the stock. Sandler O’Neill boosted their target price on shares of Virtu Financial from $27.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, May 4th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, BidaskClub downgraded shares of Virtu Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $30.80.
In other Virtu Financial news, CFO Joseph Molluso sold 88,304 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $30.18, for a total transaction of $2,665,014.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Nixon acquired 5,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were purchased at an average cost of $20.15 per share, with a total value of $100,750.00. Following the completion of the acquisition, the director now directly owns 24,894 shares in the company, valued at approximately $501,614.10. The disclosure for this purchase can be found here. Insiders sold 381,202 shares of company stock valued at $11,486,250 over the last ninety days. 73.50% of the stock is currently owned by company insiders.
Shares of Virtu Financial stock traded up $0.30 during trading on Tuesday, reaching $22.25. The company’s stock had a trading volume of 4,932 shares, compared to its average volume of 1,313,198. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.70. Virtu Financial Inc has a one year low of $13.10 and a one year high of $37.85. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 38.95, a P/E/G ratio of 2.89 and a beta of -0.86.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The business had revenue of $328.10 million during the quarter, compared to the consensus estimate of $236.08 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 126.4% compared to the same quarter last year. sell-side analysts anticipate that Virtu Financial Inc will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.24 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.31%. Virtu Financial’s dividend payout ratio is 168.42%.
Virtu Financial Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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