Virtu Financial, Inc. (NASDAQ:VIRT) Holdings Cut by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,397,056 shares of the financial services provider’s stock after selling 79,091 shares during the period. Geode Capital Management LLC owned about 0.90% of Virtu Financial worth $42,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new stake in Virtu Financial during the third quarter valued at $33,000. International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial during the 2nd quarter worth about $39,000. Innealta Capital LLC acquired a new stake in shares of Virtu Financial during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC grew its stake in shares of Virtu Financial by 22.2% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after buying an additional 487 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Virtu Financial by 149.0% in the third quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,442 shares during the last quarter. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $35.41 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50-day moving average is $34.78 and its 200-day moving average is $30.33. The company has a market cap of $5.48 billion, a P/E ratio of 17.79, a P/E/G ratio of 0.49 and a beta of 0.43. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $38.45.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. Equities research analysts predict that Virtu Financial, Inc. will post 2.71 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, November 29th. Virtu Financial’s dividend payout ratio (DPR) is currently 48.24%.

Virtu Financial Company 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.