Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Virtu Financial, Inc. (NYSE:VIRT – Free Report) in the 1st quarter, Holdings Channel reports. The institutional investor bought 73,562 shares of the company’s stock, valued at approximately $3,235,000.
Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Virtu Financial by 64.2% during the 3rd quarter. Invesco Ltd. now owns 2,370,400 shares of the company’s stock worth $84,149,000 after purchasing an additional 926,376 shares during the last quarter. Millennium Management LLC increased its stake in Virtu Financial by 290.3% during the 4th quarter. Millennium Management LLC now owns 1,132,346 shares of the company’s stock valued at $37,730,000 after purchasing an additional 842,247 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Virtu Financial by 565.4% in the fourth quarter. Wellington Management Group LLP now owns 815,143 shares of the company’s stock valued at $27,161,000 after purchasing an additional 692,643 shares in the last quarter. Algebris UK Ltd. purchased a new stake in Virtu Financial in the fourth quarter worth $22,377,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Virtu Financial by 41.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,928,509 shares of the company’s stock valued at $85,607,000 after acquiring an additional 569,057 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.
Virtu Financial Stock Up 2.6%
Shares of NYSE VIRT opened at $59.46 on Friday. Virtu Financial, Inc. has a 12 month low of $31.55 and a 12 month high of $68.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.38 and a beta of 0.58. The business has a 50-day moving average of $58.06 and a 200-day moving average of $48.68.
Virtu Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Virtu Financial’s dividend payout ratio is presently 15.89%.
More Virtu Financial News
Here are the key news stories impacting Virtu Financial this week:
- Positive Sentiment: Q2 earnings exceeded expectations. Virtu reported adjusted earnings of $1.82 per share, above the $1.68 Zacks consensus estimate and $1.81 analyst consensus. EPS also increased from $1.65 in the year-ago quarter. Virtu Financial Beats Q2 Earnings and Revenue Estimates
- Positive Sentiment: Revenue substantially surpassed estimates. Quarterly revenue was reported at $1.19 billion, compared with the $687.23 million consensus estimate, reinforcing the benefit of strong trading activity and Virtu’s market-making operations. Virtu Financial Earnings Report
- Positive Sentiment: Shareholder returns remain supportive. Virtu declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a stated 1.6% yield. Investors of record on September 1 will receive the payment on September 15. The company’s ongoing buybacks and cash generation were also cited as reasons for a bullish investment outlook. Virtu Financial Better Than the Market Expects
- Positive Sentiment: Long-term growth opportunities remain. An analyst reaffirmed a Buy thesis, pointing to Virtu’s execution-services and cryptocurrency businesses, low valuation and high cash generation.
- Neutral Sentiment: Investor focus will shift to the earnings call and guidance. The results indicate strong current operating momentum, but future performance remains sensitive to trading volumes, market volatility and the sustainability of unusually high revenue levels.
- Negative Sentiment: A law firm is soliciting Virtu shareholders. The notice asks investors to discuss potential fiduciary-duty claims involving company insiders; it does not establish wrongdoing or announce a regulatory action, but could create reputational or legal overhang. Virtu Financial Shareholder Notice
Insider Buying and Selling at Virtu Financial
In other news, COO Brett Fairclough sold 30,000 shares of Virtu Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the completion of the sale, the chief operating officer directly owned 42,473 shares of the company’s stock, valued at approximately $2,126,198.38. The trade was a 41.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 46.76% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price target on Virtu Financial from $61.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Zacks Research lowered Virtu Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. JPMorgan Chase & Co. increased their price target on shares of Virtu Financial from $51.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Virtu Financial from $51.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Virtu Financial in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus price target of $56.50.
Get Our Latest Research Report on VIRT
About Virtu Financial
Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.
The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.
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Want to see what other hedge funds are holding VIRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtu Financial, Inc. (NYSE:VIRT – Free Report).
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