Nisa Investment Advisors LLC Reduces Stock Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Nisa Investment Advisors LLC trimmed its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 37.5% during the third quarter, Holdings Channel.com reports. The firm owned 5,000 shares of the financial services provider’s stock after selling 3,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Virtu Financial were worth $152,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Virtu Financial in the third quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new position in Virtu Financial in the 2nd quarter valued at $39,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Virtu Financial in the second quarter valued at $46,000. Finally, First Horizon Advisors Inc. increased its stake in Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 372 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Virtu Financial Price Performance

VIRT opened at $33.41 on Thursday. The company has a 50 day moving average of $31.64 and a two-hundred day moving average of $27.13. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $33.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The company has a market cap of $5.17 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.49 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $388.00 million during the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business’s revenue was up 30.2% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, analysts expect that Virtu Financial, Inc. will post 2.7 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Sunday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is currently 48.24%.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of research analyst reports. Citigroup raised their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. Finally, Bank of America lowered their price objective 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.50.

Virtu Financial 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.