Concurrent Investment Advisors LLC Acquires 503 Shares of Virtu Financial, Inc. $VIRT

Concurrent Investment Advisors LLC lifted its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,618 shares of the financial services provider’s stock after purchasing an additional 503 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Virtu Financial were worth $431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Virtu Financial by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,568,548 shares of the financial services provider’s stock worth $364,753,000 after purchasing an additional 165,396 shares in the last quarter. Invesco Ltd. increased its position in shares of Virtu Financial by 83.6% during the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider’s stock worth $56,157,000 after acquiring an additional 670,774 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Virtu Financial by 50.9% during the first quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider’s stock worth $49,764,000 after acquiring an additional 445,586 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Virtu Financial by 69.5% during the first quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider’s stock worth $40,522,000 after acquiring an additional 435,958 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Virtu Financial by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 930,110 shares of the financial services provider’s stock valued at $35,856,000 after acquiring an additional 95,692 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

VIRT opened at $33.25 on Friday. The business’s 50-day simple moving average is $37.57 and its 200 day simple moving average is $40.00. Virtu Financial, Inc. has a 52-week low of $29.82 and a 52-week high of $45.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $5.08 billion, a PE ratio of 9.61, a PEG ratio of 1.14 and a beta of 0.62.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The firm had revenue of $274.00 million during the quarter. As a group, sell-side analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial’s dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

VIRT has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 6th. UBS Group reaffirmed a “neutral” rating and set a $45.00 price objective (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Piper Sandler increased their price objective on Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.43.

Insider Buying and Selling

In other news, COO Brett Fairclough sold 90,701 shares of Virtu Financial stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $42.40, for a total value of $3,845,722.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 47.20% of the stock is currently owned by corporate insiders.

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.