Cornercap Investment Counsel Inc. Sells 31,743 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 56.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,972 shares of the financial services provider's stock after selling 31,743 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Virtu Financial were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VIRT. First Horizon Advisors Inc. increased its stake in Virtu Financial by 21.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider's stock worth $48,000 after acquiring an additional 372 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Virtu Financial by 22.2% in the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 487 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Virtu Financial by 3.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider's stock worth $436,000 after buying an additional 587 shares in the last quarter. Atria Investments Inc grew its holdings in Virtu Financial by 7.2% during the 3rd quarter. Atria Investments Inc now owns 10,724 shares of the financial services provider's stock worth $327,000 after acquiring an additional 717 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Virtu Financial by 3.0% during the third quarter. QRG Capital Management Inc. now owns 25,167 shares of the financial services provider's stock valued at $767,000 after buying an additional 728 shares during the period. Hedge funds and other institutional investors own 45.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VIRT. The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, September 30th. Citigroup lifted their target price on Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Morgan Stanley increased their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Bank of America decreased their target price on shares of Virtu Financial from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.50.

Virtu Financial Trading Down 0.8 %

Shares of Virtu Financial stock traded down $0.27 during mid-day trading on Friday, hitting $34.92. 876,994 shares of the stock were exchanged, compared to its average volume of 1,001,072. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $36.98. The company has a 50-day simple moving average of $32.17 and a 200 day simple moving average of $27.73. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.55 and a beta of 0.38. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same quarter last year, the firm posted $0.40 earnings per share. Virtu Financial's revenue for the quarter was up 30.2% compared to the same quarter last year. Research analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 29th. Virtu Financial's dividend payout ratio is presently 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.