Virtu Financial Inc. (VIRT) Trading Down 0.9%
Virtu Financial Inc. (NASDAQ:VIRT) shares dropped 0.9% on Tuesday . The company traded as low as $17.78 and last traded at $17.84, with a volume of 80,478 shares changing hands. The stock had previously closed at $18.00.
VIRT has been the topic of a number of recent research reports. Credit Suisse Group AG restated an “underperform” rating and set a $20.00 price target on shares of Virtu Financial in a report on Friday, March 25th. Goldman Sachs Group Inc. restated a “buy” rating and set a $24.50 price target (down previously from $26.00) on shares of Virtu Financial in a report on Tuesday, April 5th.
The company has a 50-day moving average of $17.77 and a 200 day moving average of $20.50. The stock’s market cap is $681.35 million.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The firm had revenue of $192.60 million for the quarter, compared to the consensus estimate of $134.72 million. Analysts expect that Virtu Financial Inc. will post $1.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend was Friday, May 27th.
In related news, SVP Venu Palaparthi purchased 2,000 shares of Virtu Financial stock in a transaction dated Monday, May 23rd. The stock was bought at an average price of $17.36 per share, for a total transaction of $34,720.00. Following the completion of the acquisition, the senior vice president now directly owns 3,032 shares of the company’s stock, valued at $52,635.52. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. UBS Oconnor LLC bought a new position in Virtu Financial during the fourth quarter valued at $1,077,000. Swiss National Bank bought a new position in Virtu Financial during the fourth quarter valued at $1,127,000. Nationwide Fund Advisors boosted its position in Virtu Financial by 454.9% in the fourth quarter. Nationwide Fund Advisors now owns 67,069 shares of the company’s stock valued at $1,518,000 after buying an additional 54,982 shares during the period. First Trust Advisors LP boosted its position in Virtu Financial by 0.5% in the fourth quarter. First Trust Advisors LP now owns 100,048 shares of the company’s stock valued at $2,265,000 after buying an additional 464 shares during the period. Finally, Boston Partners bought a new position in Virtu Financial during the fourth quarter valued at $2,335,000.
Virtu Financial, Inc is a financial holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets. The Company is engaged in buying and selling securities and other financial instruments. The Company provides liquidity and competitive pricing in foreign currency markets directly to market participants on its own trading platform called VFX and through other customized liquidity arrangements.
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