Seven Eight Capital LP Has $2.12 Million Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Seven Eight Capital LP increased its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 41.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,608 shares of the financial services provider’s stock after purchasing an additional 27,948 shares during the quarter. Seven Eight Capital LP owned approximately 0.06% of Virtu Financial worth $2,124,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Virtu Financial during the 1st quarter worth approximately $26,000. Quarry LP increased its position in Virtu Financial by 79.9% during the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 746 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Virtu Financial during the 2nd quarter worth approximately $39,000. Innealta Capital LLC acquired a new position in Virtu Financial during the 2nd quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. increased its position in Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 372 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Piper Sandler upped their price target on shares of Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Citigroup upped their price target on shares of Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus price target of $27.36.

Insider Activity

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 46.70% of the company’s stock.

Virtu Financial Trading Up 0.0 %

NASDAQ:VIRT opened at $32.37 on Thursday. The firm’s fifty day moving average is $28.83 and its 200-day moving average is $24.22. 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 52 week low of $16.02 and a 52 week high of $32.88. The firm has a market cap of $5.05 billion, a P/E ratio of 22.64, a P/E/G ratio of 0.52 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating 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 company had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. During the same period in the prior year, the firm posted $0.29 EPS. The company’s quarterly revenue was up 38.2% on a year-over-year basis. Equities analysts expect that Virtu Financial, Inc. will post 2.42 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Friday, August 30th. Virtu Financial’s dividend 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.