Wellington Management Group LLP boosted its stake in Virtu Financial, Inc. (NYSE:VIRT – Free Report) by 39.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 782,114 shares of the company’s stock after buying an additional 222,859 shares during the quarter. Wellington Management Group LLP’s holdings in Virtu Financial were worth $46,591,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of VIRT. Transamerica Financial Advisors LLC increased its stake in Virtu Financial by 480.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company’s stock worth $28,000 after buying an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Virtu Financial by 103.8% in the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $34,000 after acquiring an additional 387 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Virtu Financial by 51.9% in the third quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock worth $35,000 after acquiring an additional 332 shares during the last quarter. Quarry LP acquired a new stake in shares of Virtu Financial in the third quarter worth approximately $35,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial during the fourth quarter worth approximately $37,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.
Virtu Financial Stock Up 2.4%
Shares of NYSE VIRT opened at $64.18 on Friday. The company has a market capitalization of $9.96 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.45 and a quick ratio of 0.45. The company has a 50 day simple moving average of $60.84 and a 200-day simple moving average of $52.82. Virtu Financial, Inc. has a 1 year low of $31.55 and a 1 year high of $68.76.
Virtu Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Virtu Financial’s dividend payout ratio is 15.95%.
Wall Street Analyst Weigh In
VIRT has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Virtu Financial in a report on Wednesday, August 26th. Morgan Stanley increased their target price on shares of Virtu Financial from $39.00 to $57.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of Virtu Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler upped their price objective on shares of Virtu Financial from $61.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Virtu Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.80.
Read Our Latest Research Report on VIRT
Insider Buying and Selling at Virtu Financial
In related news, Director Joseph J. Grano, Jr. sold 8,400 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $60.94, for a total value of $511,896.00. Following the sale, the director directly owned 33,814 shares in the company, valued at approximately $2,060,625.16. The trade was a 19.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Nixon sold 9,094 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $60.13, for a total transaction of $546,822.22. Following the completion of the transaction, the director directly owned 30,902 shares in the company, valued at $1,858,137.26. The trade was a 22.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 46.76% of the company’s stock.
Virtu Financial Profile
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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