Temasek Holdings Private Ltd cut its holdings in Virtu Financial Inc (NASDAQ:VIRT) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,880,503 shares of the financial services provider’s stock after selling 3,450,000 shares during the quarter. Virtu Financial makes up about 2.4% of Temasek Holdings Private Ltd’s holdings, making the stock its 8th biggest holding. Temasek Holdings Private Ltd owned 8.86% of Virtu Financial worth $448,177,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in VIRT. FMR LLC grew its position in shares of Virtu Financial by 338.5% in the 2nd quarter. FMR LLC now owns 3,589,201 shares of the financial services provider’s stock worth $95,294,000 after buying an additional 2,770,731 shares during the period. Renaissance Technologies LLC grew its position in shares of Virtu Financial by 590.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the financial services provider’s stock worth $34,401,000 after buying an additional 1,108,100 shares during the period. Rothschild Asset Management Inc. purchased a new stake in shares of Virtu Financial in the 2nd quarter worth about $26,513,000. Summit Trail Advisors LLC grew its position in Virtu Financial by 2,855.4% during the 1st quarter. Summit Trail Advisors LLC now owns 478,953 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 462,747 shares during the last quarter. Finally, Smith Asset Management Group LP purchased a new stake in Virtu Financial during the 2nd quarter valued at about $9,919,000. 54.15% of the stock is currently owned by hedge funds and other institutional investors.
VIRT traded up $0.05 during midday trading on Thursday, hitting $21.75. 16,475 shares of the company traded hands, compared to its average volume of 826,368. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $4.15 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.89 and a beta of -0.78. Virtu Financial Inc has a 52 week low of $13.10 and a 52 week high of $37.85.
Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The company had revenue of $328.10 million for the quarter, compared to the consensus estimate of $236.08 million. Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. Virtu Financial’s revenue was up 126.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 EPS. research analysts forecast that Virtu Financial Inc will post 1.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.41%. The ex-dividend date is Thursday, August 30th. Virtu Financial’s dividend payout ratio is currently 168.42%.
VIRT has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research report on Wednesday, July 18th. Morgan Stanley initiated coverage on shares of Virtu Financial in a research report on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 price objective on the stock. ValuEngine downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Sandler O’Neill reissued a “buy” rating and set a $27.00 price objective on shares of Virtu Financial in a research report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Virtu Financial in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.80.
In other Virtu Financial news, CEO Douglas A. Cifu sold 93,334 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $30.33, for a total transaction of $2,830,820.22. Following the transaction, the chief executive officer now owns 335,450 shares in the company, valued at approximately $10,174,198.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas A. Cifu sold 82,521 shares of the company’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $30.17, for a total transaction of $2,489,658.57. Following the transaction, the chief executive officer now owns 324,637 shares in the company, valued at approximately $9,794,298.29. The disclosure for this sale can be found here. Insiders have sold a total of 381,202 shares of company stock worth $11,486,250 in the last 90 days. Company insiders own 73.50% of the company’s stock.
About Virtu Financial
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.
Read More: Return on Investment (ROI)
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