Old West Investment Management LLC lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,690 shares of the financial services provider's stock after selling 23,751 shares during the quarter. Virtu Financial comprises about 7.2% of Old West Investment Management LLC's holdings, making the stock its largest position. Old West Investment Management LLC owned approximately 0.42% of Virtu Financial worth $20,033,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised 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 worth $1,510,000 after buying an additional 31,884 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Virtu Financial during the first quarter worth $1,238,000. Seven Eight Capital LP acquired a new stake in Virtu Financial in the first quarter valued at $1,368,000. SG Americas Securities LLC increased its position in shares of 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 valued at $1,030,000 after buying an additional 42,941 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Virtu Financial in the 1st quarter valued at about $4,349,000. Institutional investors and hedge funds own 45.78% of the company's stock.
Virtu Financial Trading Up 5.0 %
VIRT stock traded up $1.60 during midday trading on Wednesday, reaching $33.41. 1,688,634 shares of the company's stock traded hands, compared to its average volume of 1,269,321. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $33.55. The business has a 50-day moving average price of $31.57 and a two-hundred day moving average price of $27.09. The company has a market capitalization of $5.17 billion, a P/E ratio of 15.99, a PEG ratio of 0.49 and a beta of 0.38.
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. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same quarter in the previous year, the business posted $0.40 EPS. The business's quarterly revenue was up 30.2% on a year-over-year basis. Equities research analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.
Virtu Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.87%. Virtu Financial's payout ratio is currently 48.24%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on VIRT shares. The Goldman Sachs Group upped their target price on Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, September 30th. Bank of America cut their price target on Virtu Financial from $37.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Citigroup lifted their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Piper Sandler reiterated an "overweight" rating and set a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. Finally, 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 research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Virtu Financial has a consensus rating of "Hold" and a consensus price target of $29.50.
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About Virtu Financial
(
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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