Amalgamated Bank Has $777,000 Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Amalgamated Bank lessened its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 33.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,521 shares of the financial services provider’s stock after selling 13,033 shares during the period. Amalgamated Bank’s holdings in Virtu Financial were worth $777,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VIRT. USA Financial Formulas acquired a new position in Virtu Financial in the third quarter worth about $33,000. International Assets Investment Management LLC bought a new stake in Virtu Financial during the second quarter worth about $39,000. Abich Financial Wealth Management LLC grew its stake in 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 buying an additional 781 shares during the last quarter. Innealta Capital LLC bought a new stake in Virtu Financial during the second quarter worth about $46,000. Finally, First Horizon Advisors Inc. grew its stake in Virtu Financial by 21.0% during the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after buying an additional 372 shares during the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Price Performance

VIRT opened at $34.92 on Friday. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $36.98. The stock has a market capitalization of $5.40 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.55 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company’s 50 day simple moving average is $32.17 and its 200-day simple moving average is $27.73.

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

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.75%. Virtu Financial’s payout ratio is presently 48.24%.

Analysts Set New Price Targets

Several brokerages have weighed in on VIRT. The Goldman Sachs Group upped their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Bank of America decreased their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Virtu Financial in a research note on Thursday, October 24th. Citigroup increased their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Five research 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 stock 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.