41,936 Shares in Virtu Financial Inc (NASDAQ:VIRT) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of Virtu Financial Inc (NASDAQ:VIRT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,936 shares of the financial services provider’s stock, valued at approximately $990,000.

A number of other large investors also recently modified their holdings of the business. Sciencast Management LP grew its holdings in Virtu Financial by 112.6% during the 2nd quarter. Sciencast Management LP now owns 34,307 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 18,172 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Virtu Financial during the 2nd quarter worth about $561,000. Miller Howard Investments Inc. NY grew its holdings in Virtu Financial by 30.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 130,000 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 30,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Virtu Financial by 56.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,315 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 2,275 shares during the last quarter. Finally, Dupont Capital Management Corp grew its holdings in Virtu Financial by 17.2% during the 2nd quarter. Dupont Capital Management Corp now owns 15,573 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 2,289 shares during the last quarter. 63.02% of the stock is currently owned by hedge funds and other institutional investors.

Virtu Financial stock traded up $0.54 during midday trading on Friday, hitting $24.80. 2,175,326 shares of the stock were exchanged, compared to its average volume of 1,166,361. The company has a fifty day simple moving average of $24.30 and a two-hundred day simple moving average of $21.68. Virtu Financial Inc has a 52 week low of $14.94 and a 52 week high of $26.82. The stock has a market capitalization of $4.78 billion, a PE ratio of 9.22 and a beta of -0.44. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.48.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.66. Virtu Financial had a net margin of 7.79% and a return on equity of 38.58%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $563.55 million. During the same quarter last year, the firm earned $0.34 EPS. Virtu Financial’s quarterly revenue was up 176.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Virtu Financial Inc will post 5.18 EPS for the current fiscal year.

A number of brokerages have commented on VIRT. Rosenblatt Securities reissued a “neutral” rating and set a $26.00 price objective (down previously from $29.00) on shares of Virtu Financial in a report on Thursday, April 16th. Compass Point raised their target price on shares of Virtu Financial from $23.50 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Morgan Stanley reduced their target price on shares of Virtu Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $31.00 target price on shares of Virtu Financial in a research note on Friday, June 19th. Finally, Citigroup raised their target price on shares of Virtu Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.17.

In other Virtu Financial news, major shareholder Sector Pension Investme Public sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $22.75, for a total transaction of $159,250,000.00. Following the sale, the insider now directly owns 11,669,062 shares in the company, valued at approximately $265,471,160.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph C. Grano sold 10,133 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.33, for a total transaction of $246,535.89. The disclosure for this sale can be found here. Insiders have sold a total of 12,510,133 shares of company stock worth $286,546,536 over the last 90 days. Corporate insiders own 63.70% of the company’s stock.

Virtu Financial Company Profile

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

See Also: Diversification in Investing

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Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

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