Treasurer of the State of North Carolina raised its stake in Virtu Financial Inc (NASDAQ:VIRT) by 30.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,222 shares of the financial services provider’s stock after acquiring an additional 4,950 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Virtu Financial were worth $462,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its stake in Virtu Financial by 211.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 7,129,625 shares of the financial services provider’s stock valued at $155,285,000 after purchasing an additional 4,842,600 shares during the last quarter. William Blair Investment Management LLC increased its stake in Virtu Financial by 40.9% in the second quarter. William Blair Investment Management LLC now owns 5,767,837 shares of the financial services provider’s stock valued at $125,623,000 after purchasing an additional 1,674,638 shares during the last quarter. Natixis Advisors L.P. increased its stake in Virtu Financial by 445.5% in the second quarter. Natixis Advisors L.P. now owns 939,576 shares of the financial services provider’s stock valued at $20,464,000 after purchasing an additional 767,332 shares during the last quarter. Assetmark Inc. increased its stake in Virtu Financial by 16,077.8% in the second quarter. Assetmark Inc. now owns 672,997 shares of the financial services provider’s stock valued at $14,658,000 after purchasing an additional 668,837 shares during the last quarter. Finally, Jacobs Asset Management LLC acquired a new position in Virtu Financial in the second quarter valued at $9,257,000. 64.79% of the stock is owned by institutional investors.
Several equities analysts recently commented on VIRT shares. Zacks Investment Research lowered Virtu Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. BidaskClub lowered Virtu Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 1st. Compass Point set a $18.00 target price on Virtu Financial and gave the company a “hold” rating in a research note on Wednesday. UBS Group dropped their target price on Virtu Financial from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Friday. Finally, ValuEngine upgraded Virtu Financial from a “sell” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.86.
Shares of NASDAQ:VIRT opened at $16.70 on Friday. The firm has a market capitalization of $3.09 billion, a PE ratio of 11.93, a P/E/G ratio of 3.07 and a beta of -0.56. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50-day moving average of $18.19 and a two-hundred day moving average of $21.51. Virtu Financial Inc has a 12 month low of $15.32 and a 12 month high of $29.17.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.11). The firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $262.19 million. Virtu Financial had a return on equity of 17.64% and a net margin of 3.58%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, research analysts anticipate that Virtu Financial Inc will post 1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 5.75%. Virtu Financial’s dividend payout ratio is presently 48.98%.
In other news, CEO Douglas A. Cifu purchased 10,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $18.58 per share, for a total transaction of $185,800.00. Following the completion of the purchase, the chief executive officer now directly owns 235,000 shares of the company’s stock, valued at approximately $4,366,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 63.70% of the company’s stock.
Virtu Financial Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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