Thrivent Financial for Lutherans Sells 67,823 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Thrivent Financial for Lutherans decreased its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 21.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,278 shares of the financial services provider’s stock after selling 67,823 shares during the quarter. Thrivent Financial for Lutherans owned about 0.16% of Virtu Financial worth $7,654,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VIRT. USA Financial Formulas purchased a new position in shares of Virtu Financial in the 3rd quarter worth about $33,000. International Assets Investment Management LLC purchased a new position in Virtu Financial in the second quarter worth about $39,000. Abich Financial Wealth Management LLC lifted its stake in shares of Virtu Financial by 55.3% in 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 in the last quarter. Innealta Capital LLC purchased a new stake in shares of Virtu Financial during the second quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of 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 valued at $48,000 after buying an additional 372 shares during the last quarter. 45.78% of the stock is owned by institutional investors.

Virtu Financial Price Performance

Shares of NASDAQ:VIRT opened at $36.69 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. The stock has a market capitalization of $5.67 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38. The firm’s 50 day moving average price is $32.62 and its 200-day moving average price is $28.14. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $38.09.

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, topping the consensus estimate of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Equities research analysts expect that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, November 29th. Virtu Financial’s payout ratio is 48.24%.

Wall Street Analysts Forecast Growth

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

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.