James Investment Research Inc. acquired a new stake in Virtu Financial Inc (NASDAQ:VIRT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 61,765 shares of the financial services provider’s stock, valued at approximately $1,640,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Virtu Financial during the second quarter worth approximately $125,000. Successful Portfolios LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $206,000. Lucia Wealth Services LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $206,000. Aperio Group LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $210,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $231,000. Institutional investors own 25.94% of the company’s stock.
A number of research firms have recently weighed in on VIRT. JPMorgan Chase & Co. lifted their price target on shares of Virtu Financial from $22.00 to $29.00 and gave the company a “hold” rating in a research report on Tuesday, April 24th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Virtu Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Friday, April 27th. BidaskClub downgraded shares of Virtu Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 26th. Finally, Citigroup lifted their price target on shares of Virtu Financial from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.80.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.07). Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The firm had revenue of $328.10 million for the quarter, compared to analyst estimates of $236.08 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 126.4% on a year-over-year basis. sell-side analysts anticipate that Virtu Financial Inc will post 1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.96 annualized dividend and a yield of 4.55%. Virtu Financial’s dividend payout ratio is currently 168.42%.
In related news, Director John Nixon purchased 5,000 shares of the stock in a transaction dated Tuesday, July 31st. The stock was bought at an average cost of $20.15 per share, for a total transaction of $100,750.00. Following the completion of the acquisition, the director now owns 24,894 shares of the company’s stock, valued at $501,614.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas A. Cifu sold 93,334 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $30.33, for a total transaction of $2,830,820.22. Following the transaction, the chief executive officer now owns 335,450 shares of the company’s stock, valued at $10,174,198.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,112,452 shares of company stock valued at $194,307,000. Company insiders own 73.50% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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