Delap Wealth Advisory LLC Takes Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Delap Wealth Advisory LLC purchased a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,196 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of Virtu Financial in the 1st quarter valued at $26,000. Quarry LP increased its stake in Virtu Financial by 79.9% in the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the period. International Assets Investment Management LLC acquired a new position in Virtu Financial in the second quarter valued at $39,000. Abich Financial Wealth Management LLC raised its holdings in shares of 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 valued at $45,000 after buying an additional 781 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Virtu Financial during the second quarter worth about $46,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on VIRT. Piper Sandler upped their price objective on Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Bank of America upped their price target on Virtu Financial from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. UBS Group lifted their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. The Goldman Sachs Group boosted their price objective on shares of Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Citigroup raised their target price on shares of Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.36.

Insider Buying and Selling

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction 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 sale, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.70% of the stock is currently owned by insiders.

Virtu Financial Price Performance

Shares of NASDAQ VIRT opened at $30.95 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $32.88. The firm has a market capitalization of $4.87 billion, a P/E ratio of 21.64, a PEG ratio of 0.52 and a beta of 0.38. The company’s fifty day moving average is $29.38 and its two-hundred day moving average is $24.44.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The firm had revenue of $385.10 million for the quarter, compared to the consensus estimate of $331.92 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. Analysts forecast that Virtu Financial, Inc. will post 2.42 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, August 30th. Virtu Financial’s payout ratio is currently 67.13%.

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.