State of Alaska Department of Revenue Decreases Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

State of Alaska Department of Revenue lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRTGet Rating) by 79.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,134 shares of the financial services provider’s stock after selling 78,315 shares during the period. State of Alaska Department of Revenue’s holdings in Virtu Financial were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC raised its position in Virtu Financial by 2.8% during the second quarter. Clear Harbor Asset Management LLC now owns 32,301 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Virtu Financial by 3.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 30,980 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 892 shares during the last quarter. Credit Suisse AG raised its position in Virtu Financial by 1.1% during the second quarter. Credit Suisse AG now owns 79,418 shares of the financial services provider’s stock worth $1,859,000 after acquiring an additional 895 shares during the last quarter. Mirador Capital Partners LP raised its position in Virtu Financial by 1.1% during the second quarter. Mirador Capital Partners LP now owns 86,525 shares of the financial services provider’s stock worth $2,026,000 after acquiring an additional 916 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Virtu Financial by 9.8% during the second quarter. Assenagon Asset Management S.A. now owns 10,420 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 50.17% of the company’s stock.

Wall Street Analysts Forecast Growth

VIRT has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Virtu Financial in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley cut their price objective on shares of Virtu Financial from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Wednesday. UBS Group cut their price objective on shares of Virtu Financial from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, January 6th. Citigroup lowered shares of Virtu Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $22.50 in a research report on Thursday. Finally, Piper Sandler cut their price objective on shares of Virtu Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.94.

Virtu Financial Price Performance

Virtu Financial stock opened at $20.14 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.56 and a current ratio of 0.56. Virtu Financial, Inc. has a 1 year low of $19.59 and a 1 year high of $38.63. The firm has a 50 day moving average price of $21.44 and a 200 day moving average price of $22.25. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 6.67 and a beta of 0.04.

Virtu Financial (NASDAQ:VIRTGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. Virtu Financial had a net margin of 13.27% and a return on equity of 38.81%. The company had revenue of $331.14 million during the quarter, compared to the consensus estimate of $307.23 million. Sell-side analysts predict that Virtu Financial, Inc. will post 3.01 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.96 annualized dividend and a yield of 4.77%. Virtu Financial’s dividend payout ratio is currently 31.79%.

Insiders Place Their Bets

In other Virtu Financial news, Director Joanne Minieri acquired 4,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was bought at an average cost of $22.63 per share, for a total transaction of $90,520.00. Following the completion of the purchase, the director now directly owns 16,187 shares in the company, valued at $366,311.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 42.10% of the stock is owned by insiders.

Virtu Financial Profile

(Get Rating)

Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.

Read More

Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

Receive News & Ratings for Virtu Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial and related companies with MarketBeat.com's FREE daily email newsletter.