Los Angeles Capital Management LLC raised its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating) by 627.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 538,101 shares of the financial services provider’s stock after acquiring an additional 464,139 shares during the period. Los Angeles Capital Management LLC owned approximately 0.30% of Virtu Financial worth $20,028,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of Virtu Financial by 0.8% during the fourth quarter. Renaissance Technologies LLC now owns 4,799,107 shares of the financial services provider’s stock valued at $138,358,000 after acquiring an additional 36,100 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Virtu Financial during the fourth quarter valued at about $37,552,000. Geode Capital Management LLC increased its position in shares of Virtu Financial by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,149,925 shares of the financial services provider’s stock valued at $33,152,000 after acquiring an additional 31,372 shares during the last quarter. First Trust Advisors LP increased its position in shares of Virtu Financial by 10.0% during the fourth quarter. First Trust Advisors LP now owns 1,026,442 shares of the financial services provider’s stock valued at $29,592,000 after acquiring an additional 93,077 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Virtu Financial by 0.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 781,303 shares of the financial services provider’s stock valued at $22,525,000 after acquiring an additional 6,152 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Virtu Financial from $28.00 to $19.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. Rosenblatt Securities raised their price objective on shares of Virtu Financial from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, April 14th. The Goldman Sachs Group lowered their price objective on shares of Virtu Financial from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, June 29th. Citigroup raised their price objective on shares of Virtu Financial from $36.00 to $37.50 in a research note on Wednesday, April 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Virtu Financial from $37.50 to $31.00 in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Virtu Financial has an average rating of “Hold” and a consensus price target of $33.07.
Insiders Place Their Bets
Virtu Financial Stock Performance
NASDAQ:VIRT opened at $24.16 on Friday. The firm has a market capitalization of $4.22 billion, a PE ratio of 7.46 and a beta of -0.11. The business’s fifty day moving average price is $23.31 and its 200 day moving average price is $29.47. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.54 and a quick ratio of 0.51. Virtu Financial, Inc. has a 12 month low of $20.90 and a 12 month high of $38.63.
Virtu Financial (NASDAQ:VIRT – Get Rating) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The business had revenue of $357.40 million during the quarter, compared to analysts’ expectations of $359.90 million. Virtu Financial had a net margin of 14.55% and a return on equity of 40.56%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. On average, sell-side analysts anticipate that Virtu Financial, Inc. will post 3.09 earnings per share for the current fiscal year.
Virtu Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Wednesday, August 31st. Virtu Financial’s payout ratio is 29.63%.
Virtu Financial Profile
Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.
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