Quarry LP Increases Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Quarry LP increased its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 129.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,130 shares of the financial services provider’s stock after buying an additional 3,454 shares during the quarter. Quarry LP’s holdings in Virtu Financial were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VIRT. O Shaughnessy Asset Management LLC increased its holdings in shares of Virtu Financial by 76.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock valued at $1,510,000 after purchasing an additional 31,884 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Virtu Financial in the first quarter valued at about $1,238,000. Norges Bank acquired a new position in shares of Virtu Financial in the fourth quarter valued at about $12,575,000. Diversify Advisory Services LLC acquired a new position in shares of Virtu Financial in the first quarter valued at about $957,000. Finally, Seven Eight Capital LP acquired a new position in shares of Virtu Financial in the first quarter valued at about $1,368,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on VIRT shares. Citigroup raised their target price on Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Piper Sandler raised their target price on Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. The Goldman Sachs Group raised their target price on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America raised their target price on Virtu Financial from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, UBS Group raised their target price on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.79.

Insider Activity

In other news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now owns 24,122 shares in the company, valued at $658,530.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 46.70% of the company’s stock.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $30.46 on Tuesday. The company has a market capitalization of $4.79 billion, a P/E ratio of 21.30, a P/E/G ratio of 0.48 and a beta of 0.38. The business’s 50 day moving average is $29.96 and its two-hundred day moving average is $24.98. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $32.88.

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

Virtu Financial Announces Dividend

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

Virtu Financial Profile

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.