Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) fell 5.1% during trading on Thursday . The stock traded as low as $29.82 and last traded at $30.71. 301,821 shares were traded during trading, a decline of 76% from the average session volume of 1,273,898 shares. The stock had previously closed at $32.35.
Analyst Upgrades and Downgrades
VIRT has been the subject of several recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $35.00 target price on shares of Virtu Financial in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research note 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 report on Wednesday, October 9th. Morgan Stanley raised their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, Bank of America decreased 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $29.50.
View Our Latest Report on VIRT
Virtu Financial Stock Down 4.6 %
The company has a market cap of $4.85 billion, a PE ratio of 21.57, a P/E/G ratio of 0.49 and a beta of 0.38. The stock has a 50-day moving average of $31.34 and a 200-day moving average of $26.37. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22.
Virtu Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 3.11%. Virtu Financial's payout ratio is currently 67.13%.
Insider Activity
In related news, Director Virginia Gambale sold 5,400 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 46.70% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 372 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in 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 worth $60,000 after buying an additional 487 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Virtu Financial by 3.1% in the second 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. First Bank & Trust grew its position in Virtu Financial by 3.9% during the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider's stock valued at $402,000 after acquiring an additional 734 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in shares of Virtu Financial by 8.0% during the third quarter. Legacy Capital Group California Inc. now owns 12,044 shares of the financial services provider's stock worth $367,000 after acquiring an additional 888 shares in the last quarter. Institutional investors own 45.78% of the company's stock.
Virtu Financial Company Profile
(
Get 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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