AGF Management Ltd. Cuts Position in Virtu Financial, Inc. $VIRT

AGF Management Ltd. trimmed its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 5.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 73,570 shares of the financial services provider’s stock after selling 3,965 shares during the period. AGF Management Ltd.’s holdings in Virtu Financial were worth $3,295,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in Virtu Financial during the 1st quarter valued at approximately $54,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Virtu Financial by 15.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 72,229 shares of the financial services provider’s stock valued at $2,684,000 after acquiring an additional 9,522 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Virtu Financial by 7.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 485,557 shares of the financial services provider’s stock worth $18,509,000 after purchasing an additional 34,829 shares during the last quarter. CWM LLC boosted its stake in Virtu Financial by 2.7% in the 1st quarter. CWM LLC now owns 13,635 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 362 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Virtu Financial by 26.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 345 shares during the last quarter. 45.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VIRT. Bank of America upgraded shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, October 28th. Piper Sandler increased their target price on Virtu Financial from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. UBS Group reaffirmed a “neutral” rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. The Goldman Sachs Group dropped their price objective on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Finally, Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Virtu Financial has a consensus rating of “Hold” and a consensus price target of $41.71.

Virtu Financial Trading Up 1.6%

NASDAQ:VIRT opened at $35.62 on Monday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day moving average price of $35.25 and a 200-day moving average price of $39.78. Virtu Financial, Inc. has a one year low of $31.89 and a one year high of $45.77.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 EPS for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The business had revenue of $274.00 million during the quarter. Sell-side analysts forecast that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Virtu Financial’s dividend payout ratio (DPR) is presently 20.78%.

About Virtu Financial

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.