State of Alaska Department of Revenue Sells 5,198 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

State of Alaska Department of Revenue lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 7.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 67,922 shares of the financial services provider’s stock after selling 5,198 shares during the quarter. State of Alaska Department of Revenue’s holdings in Virtu Financial were worth $2,068,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in VIRT. USA Financial Formulas purchased a new position in shares of Virtu Financial during the third quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new stake in Virtu Financial in the 2nd quarter worth approximately $39,000. Innealta Capital LLC purchased a new stake in Virtu Financial during the 2nd quarter valued at $46,000. First Horizon Advisors Inc. lifted its holdings in shares of 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 valued at $48,000 after buying an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Virtu Financial by 55.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after buying an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction dated 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 directly owns 24,122 shares in the company, valued at approximately $658,530.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.70% of the stock is currently owned by insiders.

Virtu Financial Stock Performance

NASDAQ VIRT opened at $31.56 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $33.55. The business has a 50-day moving average price of $31.54 and a 200-day moving average price of $26.84. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The business 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 period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts predict that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Sunday, December 1st. This represents a $0.96 annualized dividend and a yield of 3.04%. Virtu Financial’s payout ratio is 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.