Virtu Financial, Inc. (NASDAQ:VIRT) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,112 shares of the financial services provider’s stock after selling 13,917 shares during the quarter. OLD National Bancorp IN’s holdings in Virtu Financial were worth $11,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its stake in shares of Virtu Financial by 76.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock valued at $1,510,000 after acquiring an additional 31,884 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Virtu Financial during the 1st quarter worth about $1,238,000. Diversify Advisory Services LLC purchased a new stake in shares of Virtu Financial during the 1st quarter worth about $957,000. Seven Eight Capital LP purchased a new stake in shares of Virtu Financial during the 1st quarter worth about $1,368,000. Finally, SG Americas Securities LLC grew its holdings in shares of Virtu Financial by 591.6% during the 1st quarter. SG Americas Securities LLC now owns 50,199 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 42,941 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Stock Performance

Virtu Financial stock opened at $32.98 on Friday. The stock has a market cap of $5.18 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 0.54 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $31.16 and a 200-day moving average of $26.13. Virtu Financial, Inc. has a 52 week low of $16.02 and a 52 week high of $33.55.

Virtu Financial (NASDAQ:VIRT) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.60 by $0.23. The company had revenue of $385.10 million during the quarter, compared to analysts’ expectations of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. On average, analysts expect that Virtu Financial, Inc. will post 2.57 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is currently 67.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America decreased their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Morgan Stanley boosted their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Citigroup upped their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.50.

Insider Activity

In other news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 46.70% of the company’s stock.

Virtu Financial Company Profile

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.