State Board of Administration of Florida Retirement System bought a new stake in shares of Virtu Financial Inc (NASDAQ:VIRT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,769 shares of the financial services provider’s stock, valued at approximately $206,000.
Several other institutional investors have also made changes to their positions in the company. Capital Advisors Inc. OK boosted its stake in Virtu Financial by 2.6% in the 2nd quarter. Capital Advisors Inc. OK now owns 215,132 shares of the financial services provider’s stock worth $5,712,000 after purchasing an additional 5,428 shares during the period. Mackay Shields LLC bought a new position in Virtu Financial in the 2nd quarter worth about $1,030,000. Rhumbline Advisers boosted its stake in Virtu Financial by 64.2% in the 2nd quarter. Rhumbline Advisers now owns 39,201 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 15,321 shares during the period. Navellier & Associates Inc bought a new position in Virtu Financial in the 2nd quarter worth about $1,500,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Virtu Financial by 115.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 140,000 shares of the financial services provider’s stock worth $3,717,000 after purchasing an additional 75,000 shares during the period. 54.15% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on VIRT shares. JPMorgan Chase & Co. upgraded Virtu Financial from a “hold” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $28.00 in a research note on Friday, May 11th. Jefferies Financial Group started coverage on Virtu Financial in a research note on Wednesday, May 23rd. They issued a “buy” rating and a $37.00 target price for the company. BidaskClub downgraded Virtu Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. Zacks Investment Research downgraded Virtu Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Citigroup cut their target price on Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating for the company in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.80.
Shares of VIRT opened at $21.85 on Friday. The stock has a market cap of $4.13 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.87 and a beta of -0.78. 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 12-month low of $13.10 and a 12-month high of $37.85.
Virtu Financial (NASDAQ:VIRT) last issued 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). The business 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%. The business’s revenue was up 126.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. equities analysts forecast that Virtu Financial Inc will post 1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.39%. Virtu Financial’s dividend payout ratio (DPR) is presently 168.42%.
In other news, CFO Joseph Molluso sold 88,304 shares of Virtu Financial 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas A. Cifu sold 82,521 shares of Virtu Financial stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $30.17, for a total value of $2,489,658.57. Following the sale, the chief executive officer now owns 324,637 shares of the company’s stock, valued at approximately $9,794,298.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 381,202 shares of company stock valued at $11,486,250. Corporate insiders own 73.50% of the company’s stock.
Virtu Financial Company 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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