Virtu Financial, Inc. (NASDAQ:VIRT) Stock Holdings Lifted by Raymond James & Associates

Raymond James & Associates raised its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,418 shares of the financial services provider’s stock after purchasing an additional 21,918 shares during the period. Raymond James & Associates owned 0.19% of Virtu Financial worth $9,090,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Virtu Financial in the third quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new position in shares of Virtu Financial during the 2nd quarter worth $39,000. Innealta Capital LLC bought a new position in shares of Virtu Financial during the 2nd quarter valued at $46,000. First Horizon Advisors Inc. lifted its stake in shares of Virtu Financial by 21.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 372 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in Virtu Financial by 55.3% in the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $31.01 on Wednesday. The firm’s 50-day moving average is $31.46 and its 200-day moving average is $26.71. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 0.46 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 1.14. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $33.55.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Equities research analysts anticipate that Virtu Financial, Inc. will post 2.66 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.10%. Virtu Financial’s payout ratio is 67.13%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VIRT. Bank of America cut their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler reissued an “overweight” rating and issued a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Citigroup lifted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus target price of $29.50.

Insider Buying and Selling

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the business’s 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 sale, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 46.70% of the stock is owned by company insiders.

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.