1834 Investment Advisors Co. Reduces Position in Virtu Financial, Inc. (NASDAQ:VIRT)

1834 Investment Advisors Co. reduced its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 286,847 shares of the financial services provider's stock after selling 38,066 shares during the period. Virtu Financial makes up approximately 1.3% of 1834 Investment Advisors Co.'s investment portfolio, making the stock its 15th biggest holding. 1834 Investment Advisors Co. owned 0.19% of Virtu Financial worth $10,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VIRT. FMR LLC lifted its stake in shares of Virtu Financial by 38.0% during the third quarter. FMR LLC now owns 4,974,095 shares of the financial services provider's stock worth $151,511,000 after buying an additional 1,368,419 shares during the period. Los Angeles Capital Management LLC acquired a new position in Virtu Financial during the third quarter valued at $29,815,000. Portolan Capital Management LLC acquired a new position in Virtu Financial during the third quarter valued at $11,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Virtu Financial by 400.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,546 shares of the financial services provider's stock valued at $10,008,000 after purchasing an additional 262,835 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Virtu Financial by 1,014.9% during the third quarter. Exchange Traded Concepts LLC now owns 164,377 shares of the financial services provider's stock valued at $5,007,000 after purchasing an additional 149,634 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VIRT has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday, September 30th. Citigroup boosted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on shares of Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Finally, Bank of America cut their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Virtu Financial has an average rating of "Hold" and an average target price of $30.21.

Virtu Financial Price Performance

NASDAQ VIRT traded up $0.92 during trading hours on Friday, hitting $39.52. 957,362 shares of the company's stock traded hands, compared to its average volume of 634,101. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $39.60. The company has a market capitalization of $6.11 billion, a PE ratio of 19.86, a PEG ratio of 0.49 and a beta of 0.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The firm's 50-day moving average is $36.55 and its 200-day moving average is $32.63.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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%. Virtu Financial's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts forecast that Virtu Financial, Inc. will post 2.9 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.43%. Virtu Financial's dividend payout ratio is currently 48.24%.

Virtu Financial 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.