Impact Partnership Wealth LLC Reduces Holdings in Virtu Financial, Inc. $VIRT

Impact Partnership Wealth LLC decreased its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 16.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,514 shares of the financial services provider’s stock after selling 2,077 shares during the period. Impact Partnership Wealth LLC’s holdings in Virtu Financial were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in Virtu Financial during the 2nd quarter worth $2,528,000. Bessemer Group Inc. increased its stake in Virtu Financial by 96.0% during the 2nd quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider’s stock worth $26,000 after buying an additional 285 shares during the period. Nisa Investment Advisors LLC increased its stake in Virtu Financial by 126.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the financial services provider’s stock worth $506,000 after buying an additional 6,300 shares during the period. AlphaQuest LLC increased its stake in Virtu Financial by 149.2% during the 2nd quarter. AlphaQuest LLC now owns 29,425 shares of the financial services provider’s stock worth $1,318,000 after buying an additional 17,615 shares during the period. Finally, Freedom Investment Management Inc. purchased a new stake in Virtu Financial during the 2nd quarter worth $494,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 47.20% of the company’s stock.

Virtu Financial Trading Up 0.5%

NASDAQ VIRT opened at $34.57 on Friday. Virtu Financial, Inc. has a one year low of $30.51 and a one year high of $45.77. The company has a 50-day simple moving average of $36.16 and a 200-day simple moving average of $39.90. 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 $5.28 billion, a PE ratio of 9.99, a price-to-earnings-growth 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 EPS for the quarter. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business had revenue of $274.00 million during the quarter. On average, equities analysts forecast that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. Virtu Financial’s payout ratio is 20.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VIRT shares. Morgan Stanley lifted their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 15th. Bank of America raised shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday. UBS Group reissued a “neutral” rating and set a $45.00 price objective (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. The Goldman Sachs Group decreased their price objective on shares of Virtu Financial from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Piper Sandler raised their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Virtu Financial presently has a consensus rating of “Hold” and an average price target of $41.71.

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.