Algert Global LLC Lowers Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Algert Global LLC trimmed its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 30.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,255 shares of the financial services provider’s stock after selling 70,156 shares during the period. Algert Global LLC’s holdings in Virtu Financial were worth $3,530,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Virtu Financial during the 1st quarter worth $26,000. Quarry LP boosted its position in shares of Virtu Financial by 79.9% during the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 746 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial during the 2nd quarter worth $39,000. Abich Financial Wealth Management LLC boosted its position in shares of Virtu Financial by 55.3% during the 1st 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 in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Virtu Financial during the 2nd quarter worth $46,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the transaction, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 46.70% of the stock is currently owned by corporate insiders.

Virtu Financial Trading Down 1.6 %

Shares of VIRT stock opened at $30.46 on Tuesday. The firm has a 50-day moving average price of $29.96 and a 200 day moving average price of $24.98. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $32.88. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.48 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The firm had revenue of $385.10 million during the quarter, compared to the consensus estimate of $331.92 million. During the same quarter in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Research analysts forecast that Virtu Financial, Inc. will post 2.47 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, August 30th. Virtu Financial’s payout ratio is 67.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VIRT shares. Citigroup boosted their target price on shares of Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America lifted their price target on Virtu Financial from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Piper Sandler lifted their price target on Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.79.

About Virtu Financial

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.