Virtu Financial, Inc. (NASDAQ:VIRT) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 26.3% in the fourth quarter, Holdings Channel reports. The fund owned 185,724 shares of the financial services provider’s stock after selling 66,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Virtu Financial were worth $3,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VIRT. International Assets Investment Management LLC increased its position in shares of Virtu Financial by 1,867.8% during the 4th quarter. International Assets Investment Management LLC now owns 4,093 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 3,885 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Virtu Financial during the 3rd quarter worth about $141,000. NBC Securities Inc. acquired a new stake in shares of Virtu Financial during the 3rd quarter worth about $184,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Virtu Financial during the 3rd quarter worth about $195,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Virtu Financial by 212.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,600 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 10,600 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

Shares of VIRT opened at $21.08 on Tuesday. The stock has a 50-day simple moving average of $19.26 and a 200-day simple moving average of $18.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $3.33 billion, a PE ratio of 15.06, a PEG ratio of 0.58 and a beta of 0.40. Virtu Financial, Inc. has a 1 year low of $16.02 and a 1 year high of $21.58.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $535.98 million during the quarter, compared to analysts’ expectations of $272.96 million. Virtu Financial had a net margin of 6.22% and a return on equity of 16.94%. During the same quarter in the previous year, the business posted $0.32 EPS. On average, analysts predict that Virtu Financial, Inc. will post 1.8 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, February 29th. Virtu Financial’s payout ratio is presently 68.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup raised their target price on Virtu Financial from $21.00 to $22.50 and gave the company a “buy” rating in a report on Tuesday, March 26th. StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. UBS Group lowered their target price on Virtu Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, January 26th. Finally, Morgan Stanley raised their target price on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.75.

Insider Activity

In other Virtu Financial news, CEO Douglas A. Cifu purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $16.21 per share, with a total value of $810,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 44.80% of the company’s stock.

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.