Los Angeles Capital Management LLC Buys New Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Los Angeles Capital Management LLC purchased a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 978,830 shares of the financial services provider's stock, valued at approximately $29,815,000. Los Angeles Capital Management LLC owned 0.63% of Virtu Financial at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in Virtu Financial by 76.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider's stock valued at $1,510,000 after acquiring an additional 31,884 shares during the period. Seven Eight Capital LP purchased a new position in Virtu Financial in the first quarter worth about $1,368,000. SG Americas Securities LLC raised its holdings in Virtu Financial by 591.6% in the first quarter. SG Americas Securities LLC now owns 50,199 shares of the financial services provider's stock worth $1,030,000 after buying an additional 42,941 shares during the last quarter. Scientech Research LLC purchased a new position in Virtu Financial in the second quarter worth about $395,000. Finally, XTX Topco Ltd purchased a new position in Virtu Financial in the second quarter worth about $381,000. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Stock Performance

Shares of VIRT stock traded up $1.68 during trading hours on Monday, reaching $35.87. The company had a trading volume of 1,349,251 shares, compared to its average volume of 1,265,897. The business has a fifty day moving average price of $31.86 and a 200-day moving average price of $27.44. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $36.98. The firm has a market cap of $5.55 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.54 and a beta of 0.38. 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 (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. The firm had revenue of $388.00 million during 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 business's revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Sell-side analysts predict that Virtu Financial, Inc. will post 2.7 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.68%. Virtu Financial's dividend payout ratio (DPR) is 48.24%.

Wall Street Analysts Forecast Growth

VIRT has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. 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. Citigroup lifted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $35.00 target price on shares of Virtu Financial in a report on Thursday, October 24th. Finally, 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 report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $29.50.

About Virtu Financial

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.