The Alaska State Department of Revenue increased its position in Virtu Financial, Inc. (NASDAQ: VIRT – Get Rating) stock by 179.7% during the first quarter, Holdings Channel.com reports. The institutional investor held 122,600 shares of the financial services provider after purchasing an additional 78,766 shares during the period. The Alaska Department of Revenue’s holdings in Virtu Financial were worth $4,563,000 as of its last SEC filing date.

Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Virtu Financial in the fourth quarter valued at approximately $37,552,000. Allspring Global Investments Holdings LLC acquired a new stake in Virtu Financial during Q4 valued at $28,799,000. Lazard Asset Management LLC increased its position in Virtu Financial by 517.1% during the fourth quarter. Lazard Asset Management LLC now owns 419,226 shares of the financial services provider worth $12,086,000 after purchasing an additional 351,294 shares during the period. Millennium Management LLC increased its equity stake in Virtu Financial by 308.5% in the third quarter. Millennium Management LLC now owns 310,806 shares of the financial services provider valued at $7,593,000 after purchasing an additional 234,721 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Virtu Financial in the fourth quarter valued at around $5,415,000. 87.95% of the shares are currently held by hedge funds and other institutional investors.

VIRT has been the subject of a number of research reports. StockNews.com launched coverage on Virtu Financial shares in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Rosenblatt Securities raised its target price on Virtu Financial from $40.00 to $44.00 and gave the stock a “buy” rating in a Thursday, April 14 research note. Piper Sandler raised her price target on Virtu Financial from $38.00 to $45.00 and gave the company an “overweight” rating in a Friday, April 1 research note. JPMorgan Chase & Co. cut its price target on Virtu Financial from $40.00 to $37.50 in a Friday, April 29 report. Finally, Citigroup raised its price target on Virtu Financial from $36.00 to $37.50 in a Wednesday, April 13 report. One equity research analyst has assigned the stock a sell rating, two have issued a hold rating and two have assigned the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.80.

NASDAQ: VIRT opened at $23.75 on Wednesday. The company has a market capitalization of $4.14 billion, a price-earnings ratio of 8.02 and a beta of -0.20. Virtu Financial, Inc. has a fifty-two-week low of $22.50 and a fifty-two-week high of $38.63. The company has a debt ratio of 1.06, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty-day moving average price of $26.64 and a 200-day moving average price of $30.66.

Virtu Financial (NASDAQ:VIRT – Get Rating) last released its quarterly earnings data on Thursday, April 28. The financial services provider reported earnings per share of $1.27 for the quarter, beating the consensus estimate of $1.26 by $0.01. Virtu Financial had a net margin of 13.99% and a return on equity of 39.13%. The company posted revenue of $522.31 million in the quarter, compared to $483.93 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $2.04. Virtu Financial’s revenues were down 28.3% compared to the same quarter last year. Research analysts predict that Virtu Financial, Inc. will post EPS of 3.39 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Wednesday, June 1 received a dividend of $0.24 per share. The ex-dividend date was Tuesday, May 31. This represents an annualized dividend of $0.96 and a dividend yield of 4.04%. Virtu Financial’s dividend payout ratio is 32.43%.

In other Virtu Financial news, Executive Vice President Stephen Cavoli sold 30,000 shares of the company in a trade dated Thursday, May 5. The stock was sold at an average price of $28.90, for a total transaction of $867,000.00. Following the completion of the transaction, the executive vice president now owns 73,277 shares of the company, valued at $2,117,705.30. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, COO Brett Fairclough sold 50,000 shares of the company in a trade that took place on Wednesday, May 4. The shares were sold at an average price of $29.25, for a total transaction of $1,462,500.00. Following the completion of the sale, the chief operating officer now owns 27,488 shares of the company, valued at $804,024. The disclosure of this sale can be found here. Insiders have sold 100,000 shares of the company worth $2,905,500 in the past three months. 42.10% of the shares are currently held by insiders.

Virtu Financial Profile (Get an assessment)

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

Read more

Want to see which other hedge funds hold VIRT? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating).

Institutional ownership by quarter for Virtu Financial (NASDAQ:VIRT)



Get news and reviews for Virtu Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Virtu Financial and related companies with MarketBeat.com’s free daily email newsletter.

Previous

Does the dealership of tomorrow have no inventory?

Next

2022 Toyota Urban Cruiser Hyryder offline reservations begin at select dealerships

Check Also