Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT – Free Report) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,224 shares of the financial services provider’s stock after selling 1,433 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Virtu Financial were worth $580,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its holdings in shares of Virtu Financial by 0.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 281 shares during the last quarter. Mariner LLC grew its holdings in shares of Virtu Financial by 4.2% in the 4th quarter. Mariner LLC now owns 8,074 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 324 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Virtu Financial by 2.7% in the 4th quarter. Cerity Partners LLC now owns 14,826 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 392 shares during the last quarter. Atlas Capital Advisors Inc. boosted its position in shares of Virtu Financial by 2.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 19,635 shares of the financial services provider’s stock worth $701,000 after buying an additional 426 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Virtu Financial by 172.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider’s stock worth $31,000 after buying an additional 551 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.
Insiders Place Their Bets
In other news, Director John Nixon sold 6,965 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total value of $298,241.30. Following the transaction, the director owned 33,923 shares of the company’s stock, valued at $1,452,582.86. This represents a 17.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas A. Cifu sold 178,320 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $38.57, for a total value of $6,877,802.40. Following the sale, the chief executive officer directly owned 408,867 shares in the company, valued at $15,770,000.19. The trade was a 30.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 362,846 shares of company stock worth $14,079,615. 47.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and set a $40.00 price objective (up previously from $38.00) on shares of Virtu Financial in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on Virtu Financial from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Morgan Stanley lifted their price objective on Virtu Financial from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Thursday, April 24th. Bank of America lowered Virtu Financial from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered Virtu Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Virtu Financial has a consensus rating of “Hold” and an average target price of $37.25.
Check Out Our Latest Stock Analysis on VIRT
Virtu Financial Trading Up 0.1%
Shares of VIRT opened at $44.51 on Friday. Virtu Financial, Inc. has a 1 year low of $21.59 and a 1 year high of $44.96. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $41.75 and a 200-day simple moving average of $38.64. The stock has a market cap of $6.86 billion, a PE ratio of 12.86, a PEG ratio of 1.14 and a beta of 0.68.
Virtu Financial (NASDAQ:VIRT – Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.31. The business had revenue of $497.14 million for the quarter, compared to analyst estimates of $444.23 million. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. Virtu Financial’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. On average, sell-side analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.
Virtu Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.16%. Virtu Financial’s payout ratio is 27.75%.
Virtu Financial Company Profile
(Free Report)
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.
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