Strs Ohio purchased a new stake in Virtu Financial Inc (NASDAQ:VIRT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 52,104 shares of the financial services provider’s stock, valued at approximately $1,229,000.
A number of other hedge funds also recently modified their holdings of the stock. Congress Asset Management Co. MA increased its position in Virtu Financial by 5.3% in the 2nd quarter. Congress Asset Management Co. MA now owns 140,195 shares of the financial services provider’s stock valued at $3,309,000 after acquiring an additional 7,110 shares during the period. First Trust Advisors LP increased its position in Virtu Financial by 66.9% in the 2nd quarter. First Trust Advisors LP now owns 360,609 shares of the financial services provider’s stock valued at $8,510,000 after acquiring an additional 144,548 shares during the period. Anderson Fisher LLC acquired a new position in Virtu Financial in the 2nd quarter valued at about $1,305,000. Assenagon Asset Management S.A. acquired a new position in Virtu Financial in the 2nd quarter valued at about $242,000. Finally, Cordatus Wealth Management LLC acquired a new position in Virtu Financial during the 2nd quarter worth approximately $690,000. Hedge funds and other institutional investors own 63.02% of the company’s stock.
Shares of VIRT stock opened at $24.80 on Friday. Virtu Financial Inc has a fifty-two week low of $14.94 and a fifty-two week high of $26.82. The stock has a market cap of $4.78 billion, a P/E ratio of 18.51 and a beta of -0.44. The business has a fifty day simple moving average of $24.30 and a 200-day simple moving average of $21.68. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.48.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.66. Virtu Financial had a return on equity of 38.58% and a net margin of 7.79%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $563.55 million. During the same quarter last year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 176.6% on a year-over-year basis. On average, sell-side analysts anticipate that Virtu Financial Inc will post 5.18 earnings per share for the current year.
Several research firms have issued reports on VIRT. Rosenblatt Securities reiterated a “neutral” rating and set a $26.00 target price (down previously from $29.00) on shares of Virtu Financial in a research report on Thursday, April 16th. BidaskClub cut Virtu Financial from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley dropped their target price on Virtu Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 1st. ValuEngine cut Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $31.00 target price on shares of Virtu Financial in a research report on Friday, June 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.17.
In related news, major shareholder Sector Pension Investme Public sold 7,000,000 shares of Virtu Financial stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $22.75, for a total transaction of $159,250,000.00. Following the completion of the sale, the insider now owns 11,669,062 shares in the company, valued at approximately $265,471,160.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph C. Grano sold 10,133 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.33, for a total transaction of $246,535.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,510,133 shares of company stock valued at $286,546,536. Company insiders own 63.70% of the company’s stock.
Virtu Financial Company 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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