Virtu Financial, Inc. (NASDAQ:VIRT) Shares Sold by State Street Corp

State Street Corp reduced its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,238,087 shares of the financial services provider's stock after selling 154,123 shares during the period. State Street Corp owned about 2.09% of Virtu Financial worth $98,632,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Virtu Financial by 38.0% in the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider's stock valued at $151,511,000 after buying an additional 1,368,419 shares during the period. Renaissance Technologies LLC lifted its stake in Virtu Financial by 3.5% in the second quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider's stock worth $81,801,000 after acquiring an additional 124,563 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Virtu Financial by 39.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider's stock worth $27,295,000 after acquiring an additional 342,327 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Virtu Financial in the third quarter valued at $29,815,000. Finally, Old West Investment Management LLC raised its stake in Virtu Financial by 4.3% in the second quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider's stock valued at $15,298,000 after buying an additional 28,199 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

NASDAQ:VIRT traded up $0.09 during trading hours on Monday, reaching $36.58. 726,874 shares of the company's stock were exchanged, compared to its average volume of 1,222,001. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $38.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.49 and a beta of 0.43. The company has a 50-day moving average of $34.48 and a 200 day moving average of $29.88.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts anticipate that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, November 29th. Virtu Financial's dividend payout ratio is currently 48.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective 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. The Goldman Sachs Group increased their price target 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. Piper Sandler restated an "overweight" rating and set a $35.00 price objective on shares of Virtu Financial in a research report on Thursday, October 24th. Citigroup upped 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. Finally, Bank of America cut their price target on shares of 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $29.50.

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.