Connor Clark & Lunn Investment Management Ltd. Sells 28,948 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 8.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 299,598 shares of the financial services provider's stock after selling 28,948 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Virtu Financial worth $10,690,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Virtu Financial during the fourth quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new stake in Virtu Financial during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its stake in Virtu Financial by 172.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 551 shares during the period. Albion Financial Group UT acquired a new position in Virtu Financial in the 4th quarter valued at approximately $45,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Virtu Financial in the 4th quarter worth approximately $47,000. Institutional investors own 45.78% of the company's stock.

Virtu Financial Price Performance

Shares of NASDAQ VIRT traded up $0.98 during midday trading on Wednesday, reaching $37.28. 554,017 shares of the company traded hands, compared to its average volume of 1,137,115. Virtu Financial, Inc. has a 12 month low of $19.06 and a 12 month high of $41.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.46 and a current ratio of 1.13. The stock's 50-day simple moving average is $37.10 and its 200-day simple moving average is $34.99. The firm has a market cap of $5.77 billion, a PE ratio of 12.55, a PEG ratio of 1.43 and a beta of 0.58.

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Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.32. Virtu Financial had a net margin of 9.61% and a return on equity of 27.39%. As a group, equities analysts anticipate that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.58%. Virtu Financial's dividend payout ratio (DPR) is presently 32.32%.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Virtu Financial from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Piper Sandler boosted their price target on shares of Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Virtu Financial currently has an average rating of "Hold" and a consensus price target of $31.36.

Insider Activity at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 72,967 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the sale, the chief operating officer now owns 90,749 shares of the company's stock, valued at $3,343,193.16. This represents a 44.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Cavoli sold 34,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $36.88, for a total transaction of $1,253,920.00. Following the completion of the transaction, the executive vice president now directly owns 191,703 shares of the company's stock, valued at approximately $7,070,006.64. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,967 shares of company stock valued at $5,213,964 in the last three months. Corporate insiders own 46.70% of the company's stock.

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.