Virtu Financial, Inc. $VIRT Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in Virtu Financial, Inc. (NYSE:VIRT) by 24.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 102,065 shares of the company’s stock after selling 32,402 shares during the quarter. OLD National Bancorp IN’s holdings in Virtu Financial were worth $4,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transamerica Financial Advisors LLC increased its stake in shares of Virtu Financial by 480.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company’s stock worth $28,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Virtu Financial by 103.8% in the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $34,000 after acquiring an additional 387 shares during the last quarter. Neo Ivy Capital Management grew its holdings in Virtu Financial by 93.7% during the 3rd quarter. Neo Ivy Capital Management now owns 978 shares of the company’s stock worth $35,000 after acquiring an additional 473 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Virtu Financial by 51.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock worth $35,000 after acquiring an additional 332 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Virtu Financial in the 3rd quarter valued at approximately $35,000. 45.78% of the stock is owned by institutional investors and hedge funds.

Virtu Financial Stock Down 0.8%

Virtu Financial stock opened at $60.54 on Friday. The company has a market capitalization of $9.39 billion, a P/E ratio of 10.02, a PEG ratio of 1.50 and a beta of 0.61. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.48 and a current ratio of 0.48. Virtu Financial, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $64.88. The stock has a 50-day simple moving average of $53.49 and a 200-day simple moving average of $44.08.

Virtu Financial (NYSE:VIRT) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.58. The firm had revenue of $786.53 million for the quarter, compared to the consensus estimate of $613.12 million. Virtu Financial had a return on equity of 51.63% and a net margin of 14.17%.The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. Equities research analysts expect that Virtu Financial, Inc. will post 5.7 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. Virtu Financial’s payout ratio is presently 15.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VIRT shares. Piper Sandler raised their price objective on shares of Virtu Financial from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Virtu Financial in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their target price on Virtu Financial from $44.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. The Goldman Sachs Group raised their price target on Virtu Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.67.

Insider Activity at Virtu Financial

In related news, COO Brett Fairclough sold 30,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $50.06, for a total value of $1,501,800.00. Following the completion of the sale, the chief operating officer owned 42,473 shares in the company, valued at $2,126,198.38. This represents a 41.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 46.76% of the stock is owned by insiders.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.