Algert Global LLC Lowers Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Algert Global LLC decreased its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 30.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,255 shares of the financial services provider’s stock after selling 70,156 shares during the quarter. Algert Global LLC owned 0.10% of Virtu Financial worth $3,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in Virtu Financial by 3.5% in the second quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after acquiring an additional 124,563 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Virtu Financial by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after acquiring an additional 342,327 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Virtu Financial by 1.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock valued at $16,408,000 after acquiring an additional 7,721 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Virtu Financial by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock valued at $15,296,000 after acquiring an additional 9,826 shares in the last quarter. Finally, Old West Investment Management LLC raised its holdings in Virtu Financial by 4.3% in the second quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock valued at $15,298,000 after acquiring an additional 28,199 shares in the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Insider Activity

In related news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 46.70% of the company’s stock.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $30.46 on Tuesday. The firm’s fifty day simple moving average is $29.96 and its 200-day simple moving average is $24.98. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.48 and a beta of 0.38. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. The business had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. As a group, equities analysts forecast that Virtu Financial, Inc. will post 2.47 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.15%. Virtu Financial’s payout ratio is 67.13%.

Analysts Set New Price Targets

Several brokerages recently weighed in on VIRT. The Goldman Sachs Group raised their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler raised their price objective 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. Citigroup raised their price objective on shares of Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Bank of America raised their price objective on shares of Virtu Financial from $25.00 to $37.00 and gave the stock 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 company’s stock. According to MarketBeat.com, Virtu Financial presently has a consensus rating of “Hold” and an average price target of $27.79.

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.