Virtu Financial, Inc. $VIRT Shares Sold by Horizon Investments LLC

Horizon Investments LLC trimmed its stake in Virtu Financial, Inc. (NYSE:VIRT) by 92.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,060 shares of the company’s stock after selling 24,479 shares during the period. Horizon Investments LLC’s holdings in Virtu Financial were worth $69,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in shares of Virtu Financial by 51.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock worth $35,000 after purchasing an additional 332 shares during the period. California State Teachers Retirement System raised its position in Virtu Financial by 0.5% in the second quarter. California State Teachers Retirement System now owns 76,473 shares of the company’s stock valued at $3,425,000 after purchasing an additional 369 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Virtu Financial by 103.8% during the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $34,000 after buying an additional 387 shares during the period. Neo Ivy Capital Management boosted its position in shares of Virtu Financial by 93.7% during the third quarter. Neo Ivy Capital Management now owns 978 shares of the company’s stock worth $35,000 after buying an additional 473 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Virtu Financial by 258.3% in the third quarter. Assetmark Inc. now owns 713 shares of the company’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Stephen Cavoli sold 28,370 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $38.94, for a total value of $1,104,727.80. Following the completion of the transaction, the executive vice president directly owned 116,191 shares of the company’s stock, valued at $4,524,477.54. This represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brett Fairclough sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 42,473 shares in the company, valued at $2,126,198.38. This represents a 41.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 300,000 shares of company stock worth $11,960,444 over the last 90 days. 46.76% of the stock is owned by insiders.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $51.50 on Tuesday. The company has a market cap of $7.99 billion, a P/E ratio of 8.53, a PEG ratio of 1.31 and a beta of 0.62. The firm has a fifty day moving average price of $45.59 and a 200 day moving average price of $39.22. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.92. Virtu Financial, Inc. has a 12 month low of $31.55 and a 12 month high of $52.21.

Virtu Financial (NYSE:VIRT) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.58. The company had revenue of $786.53 million during the quarter, compared to the consensus estimate of $613.12 million. Virtu Financial had a return on equity of 51.63% and a net margin of 14.17%.Virtu Financial’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. Sell-side analysts predict that Virtu Financial, Inc. will post 5.48 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 1.9%. Virtu Financial’s payout ratio is presently 15.89%.

Analysts Set New Price Targets

VIRT has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on Virtu Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings raised Virtu Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Piper Sandler boosted their price target on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Wall Street Zen raised shares of Virtu Financial from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Zacks Research raised shares of Virtu Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Virtu Financial has an average rating of “Moderate Buy” and an average price target of $48.67.

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.