Wealth Enhancement Advisory Services LLC Takes $226,000 Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the 2nd quarter, Holdings Channel reports. The fund bought 10,069 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Riverview Trust Co acquired a new stake in Virtu Financial during the first quarter worth approximately $26,000. Quarry LP increased its stake in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 746 shares during the period. CWM LLC lifted its holdings in Virtu Financial by 112.3% during the 4th quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,127 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in 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 valued at $45,000 after purchasing an additional 781 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Virtu Financial by 1,867.8% in the 4th quarter. International Assets Investment Management LLC now owns 4,093 shares of the financial services provider’s stock valued at $83,000 after buying an additional 3,885 shares in the last quarter. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Trading Up 1.9 %

Shares of VIRT stock opened at $30.66 on Tuesday. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $30.96. The stock’s fifty day moving average price is $26.09 and its two-hundred day moving average price is $22.62. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $4.82 billion, a PE ratio of 21.44, a P/E/G ratio of 0.51 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $385.10 million during the quarter, compared to the consensus estimate of $331.92 million. During the same period in the prior year, the company earned $0.29 EPS. Virtu Financial’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities analysts predict that Virtu Financial, Inc. will post 2.29 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insider Buying and Selling

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 46.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.