Envestnet Asset Management Inc. Raises Stake in Virtu Financial, Inc. $VIRT

Envestnet Asset Management Inc. increased its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 426,122 shares of the financial services provider’s stock after buying an additional 27,975 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Virtu Financial worth $15,127,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Yousif Capital Management LLC raised its holdings in shares of Virtu Financial by 0.8% during the second quarter. Yousif Capital Management LLC now owns 29,986 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 227 shares during the last quarter. Bessemer Group Inc. grew its position in Virtu Financial by 96.0% during the 2nd quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 285 shares during the period. California State Teachers Retirement System raised its stake in shares of Virtu Financial by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 76,473 shares of the financial services provider’s stock valued at $3,425,000 after buying an additional 369 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Virtu Financial by 103.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 760 shares of the financial services provider’s stock valued at $34,000 after buying an additional 387 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Virtu Financial by 32.0% in the third quarter. Farther Finance Advisors LLC now owns 1,712 shares of the financial services provider’s stock worth $61,000 after buying an additional 415 shares during the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Stephen Cavoli sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $37.61, for a total transaction of $1,128,300.00. Following the completion of the sale, the executive vice president owned 174,561 shares of the company’s stock, valued at approximately $6,565,239.21. This represents a 14.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 47.20% of the company’s stock.

Virtu Financial Stock Performance

NASDAQ VIRT opened at $38.38 on Tuesday. The company has a market cap of $5.87 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The stock’s 50 day simple moving average is $35.76 and its 200-day simple moving average is $36.41. Virtu Financial, Inc. has a 1-year low of $31.55 and a 1-year high of $45.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.12 by $0.73. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The firm had revenue of $969.89 million during the quarter, compared to the consensus estimate of $513.51 million. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. Virtu Financial’s dividend payout ratio (DPR) is currently 18.71%.

Analyst Ratings Changes

VIRT has been the subject of a number of analyst reports. Bank of America raised Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, October 28th. Piper Sandler boosted their target price on shares of Virtu Financial from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group raised their price target on shares of Virtu Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Morgan Stanley lifted their price objective on shares of Virtu Financial from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Virtu Financial Company Profile

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.