BlackRock Inc. raised its stake in Virtu Financial Inc (NASDAQ:VIRT) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,268,190 shares of the financial services provider’s stock after purchasing an additional 167,624 shares during the quarter. BlackRock Inc. owned about 1.21% of Virtu Financial worth $60,220,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in VIRT. Aperio Group LLC lifted its holdings in shares of Virtu Financial by 43.1% during the 2nd quarter. Aperio Group LLC now owns 9,129 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 2,751 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Virtu Financial by 57.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,498 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 3,094 shares in the last quarter. First Bank & Trust lifted its holdings in shares of Virtu Financial by 41.3% during the 2nd quarter. First Bank & Trust now owns 11,774 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 3,444 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Virtu Financial during the 2nd quarter valued at $125,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Virtu Financial by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 558,629 shares of the financial services provider’s stock valued at $18,435,000 after acquiring an additional 4,926 shares in the last quarter. Institutional investors own 54.14% of the company’s stock.
VIRT has been the topic of several recent research reports. Jefferies Financial Group restated a “buy” rating and set a $25.00 target price on shares of Virtu Financial in a report on Monday, July 30th. BidaskClub downgraded shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. Citigroup dropped their price target on shares of Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research note on Wednesday, July 18th. Morgan Stanley began coverage on shares of Virtu Financial in a research note on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 price target on the stock. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $27.00 price target on shares of Virtu Financial in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Virtu Financial presently has a consensus rating of “Hold” and an average price target of $30.09.
In related news, Director John Nixon bought 5,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was bought at an average price of $20.15 per share, with a total value of $100,750.00. Following the transaction, the director now owns 24,894 shares of the company’s stock, valued at $501,614.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 73.50% of the stock is currently owned by insiders.
VIRT opened at $23.02 on Friday. The stock has a market capitalization of $3.89 billion, a PE ratio of 40.37, a P/E/G ratio of 2.71 and a beta of -0.77. Virtu Financial Inc has a 1-year low of $13.10 and a 1-year high of $37.85. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.70.
Virtu Financial (NASDAQ:VIRT) last released its earnings results on Friday, July 27th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). The company had revenue of $328.10 million during the quarter, compared to the consensus estimate of $236.08 million. Virtu Financial had a return on equity of 19.62% and a net margin of 11.30%. Virtu Financial’s revenue for the quarter was up 126.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. On average, equities analysts expect that Virtu Financial Inc will post 1.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, August 30th. Virtu Financial’s payout ratio is currently 168.42%.
Virtu Financial Company Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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