Insider Buying: Virtu Financial, Inc. (VIRT) Major Shareholder Buys 338,124 Shares of Stock
Virtu Financial, Inc. (NASDAQ:VIRT) major shareholder North Island Ventures, Llc acquired 338,124 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $15.44 per share, with a total value of $5,220,634.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Virtu Financial, Inc. (NASDAQ VIRT) traded up 1.54% during trading on Thursday, reaching $16.50. The company’s stock had a trading volume of 786,675 shares. Virtu Financial, Inc. has a 12-month low of $12.35 and a 12-month high of $19.07. The stock has a market cap of $673.43 million, a P/E ratio of 35.87 and a beta of 0.39. The stock’s 50-day moving average is $16.86 and its 200-day moving average is $16.81.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.10. The company had revenue of $77.10 million during the quarter, compared to analysts’ expectations of $82.23 million. Virtu Financial had a return on equity of 16.40% and a net margin of 3.42%. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. Equities research analysts anticipate that Virtu Financial, Inc. will post $0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 5.82%. Virtu Financial’s dividend payout ratio is currently 188.24%.
COPYRIGHT VIOLATION WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/insider-buying-virtu-financial-inc-virt-major-shareholder-buys-338124-shares-of-stock/1469676.html.
A number of research firms have recently commented on VIRT. BidaskClub cut Virtu Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. TheStreet raised Virtu Financial from a “d-” rating to a “c-” rating in a report on Friday, May 19th. Zacks Investment Research raised Virtu Financial from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Citigroup Inc. cut Virtu Financial from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $17.00 to $16.00 in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $16.00 price target on shares of Virtu Financial in a report on Thursday. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.50.
Several hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP boosted its stake in Virtu Financial by 1,479.0% in the first quarter. Quantbot Technologies LP now owns 6,316 shares of the financial services provider’s stock valued at $107,000 after buying an additional 5,916 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Virtu Financial during the first quarter valued at about $109,000. First Bank & Trust boosted its stake in Virtu Financial by 28.4% in the first quarter. First Bank & Trust now owns 8,967 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,983 shares during the last quarter. WBI Investments Inc. acquired a new stake in Virtu Financial during the second quarter valued at about $194,000. Finally, Eagle Ridge Investment Management acquired a new stake in Virtu Financial during the first quarter valued at about $250,000. 43.88% of the stock is currently owned by institutional investors.
Virtu Financial Company Profile
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
Receive News & Ratings for Virtu Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.