Verition Fund Management LLC Takes $1.44 Million Position in Virtu Financial Inc (NASDAQ:VIRT)

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Verition Fund Management LLC purchased a new position in Virtu Financial Inc (NASDAQ:VIRT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,380 shares of the financial services provider’s stock, valued at approximately $1,444,000.

Other large investors also recently modified their holdings of the company. Swiss National Bank increased its position in Virtu Financial by 3.1% in the 1st quarter. Swiss National Bank now owns 83,700 shares of the financial services provider’s stock valued at $2,762,000 after acquiring an additional 2,500 shares during the period. Schwab Charles Investment Management Inc. increased its position in Virtu Financial by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 177,070 shares of the financial services provider’s stock valued at $5,844,000 after acquiring an additional 9,341 shares during the period. Aperio Group LLC acquired a new stake in Virtu Financial in the 1st quarter valued at approximately $210,000. Private Advisor Group LLC acquired a new stake in Virtu Financial in the 1st quarter valued at approximately $533,000. Finally, BlackRock Inc. increased its position in Virtu Financial by 2.0% in the 1st quarter. BlackRock Inc. now owns 2,100,566 shares of the financial services provider’s stock valued at $69,319,000 after acquiring an additional 40,362 shares during the period. 54.14% of the stock is currently owned by hedge funds and other institutional investors.

VIRT has been the topic of several analyst reports. BidaskClub cut Virtu Financial from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Citigroup lowered their target price on Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research report on Wednesday, July 18th. Sandler O’Neill restated a “buy” rating and issued a $27.00 target price on shares of Virtu Financial in a research report on Friday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Virtu Financial in a research report on Monday, July 30th. Finally, ValuEngine cut Virtu Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Virtu Financial has a consensus rating of “Hold” and an average target price of $30.09.

Shares of VIRT stock traded up $0.13 during mid-day trading on Friday, hitting $23.02. 1,491,527 shares of the stock traded hands, compared to its average volume of 1,024,374. Virtu Financial Inc has a twelve month low of $13.10 and a twelve month high of $37.85. The stock has a market cap of $3.89 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 2.71 and a beta of -0.77. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The firm had revenue of $328.10 million for the quarter, compared to analyst estimates of $236.08 million. During the same quarter last year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 126.4% compared to the same quarter last year. Equities research analysts predict that Virtu Financial Inc will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.24 per share. 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 dividend payout ratio (DPR) is presently 168.42%.

In other news, Director John Nixon purchased 5,000 shares of the stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $20.15 per share, for a total transaction of $100,750.00. Following the transaction, the director now owns 24,894 shares in the company, valued at $501,614.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 73.50% of the stock is currently owned by company insiders.

Virtu Financial 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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Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

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