1834 Investment Advisors Co. trimmed its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,913 shares of the financial services provider's stock after selling 27,585 shares during the quarter. Virtu Financial accounts for 1.2% of 1834 Investment Advisors Co.'s portfolio, making the stock its 17th largest position. 1834 Investment Advisors Co. owned about 0.21% of Virtu Financial worth $9,897,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norden Group LLC bought a new stake in Virtu Financial in the first quarter valued at $616,000. Private Advisor Group LLC acquired a new position in shares of Virtu Financial in the 1st quarter worth approximately $358,000. Janney Montgomery Scott LLC grew its holdings in shares of Virtu Financial by 28.6% during the first quarter. Janney Montgomery Scott LLC now owns 14,199 shares of the financial services provider's stock worth $291,000 after purchasing an additional 3,162 shares during the last quarter. GSA Capital Partners LLP bought a new position in Virtu Financial in the 1st quarter valued at $1,238,000. Finally, WBI Investments LLC bought a new stake in shares of Virtu Financial during the first quarter worth approximately $653,000. 45.78% of the stock is owned by institutional investors.
Virtu Financial Stock Up 2.9 %
Virtu Financial stock traded up $0.93 during mid-day trading on Wednesday, reaching $32.74. The stock had a trading volume of 935,830 shares, compared to its average volume of 1,265,820. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $33.55. The stock's 50-day simple moving average is $31.57 and its 200-day simple moving average is $27.09. The firm has a market capitalization of $5.06 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm's revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, sell-side analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.
Virtu Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. Virtu Financial's payout ratio is presently 48.24%.
Analyst Upgrades and Downgrades
A number of research firms have commented on VIRT. The Goldman Sachs Group lifted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Monday, September 30th. Bank of America dropped their price objective on Virtu Financial from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Citigroup increased their target price on Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Morgan Stanley upped their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $35.00 price target on shares of Virtu Financial in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.50.
Get Our Latest Report on Virtu Financial
Virtu Financial Company Profile
(
Free Report)
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.
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