Thrive Wealth Management LLC Purchases New Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Thrive Wealth Management LLC acquired a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,439 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in Virtu Financial during the fourth quarter worth about $12,575,000. Interval Partners LP purchased a new position in shares of Virtu Financial in the 1st quarter worth approximately $5,050,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Virtu Financial in the first quarter valued at approximately $4,349,000. Simplicity Wealth LLC purchased a new stake in shares of Virtu Financial during the first quarter valued at approximately $2,479,000. Finally, Natixis lifted its holdings in Virtu Financial by 110.0% during the first quarter. Natixis now owns 189,000 shares of the financial services provider’s stock worth $3,878,000 after acquiring an additional 99,000 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Virtu Financial from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. UBS Group boosted their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Piper Sandler lifted their price target on shares of Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Bank of America increased their price objective on Virtu Financial from $25.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.36.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT traded up $1.16 during trading on Friday, hitting $29.19. 1,119,290 shares of the company were exchanged, compared to its average volume of 1,301,829. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $29.69. The stock has a 50 day moving average of $24.65 and a 200 day moving average of $21.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $4.55 billion, a PE ratio of 20.41, a P/E/G ratio of 0.50 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities research analysts predict that Virtu Financial, Inc. will post 2.29 EPS for the current year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 46.70% of the company’s stock.

Virtu Financial Company Profile

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.