Old West Investment Management LLC Grows Stake in Virtu Financial, Inc. (NASDAQ:VIRT)

Old West Investment Management LLC raised its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 681,441 shares of the financial services provider’s stock after acquiring an additional 28,199 shares during the quarter. Virtu Financial comprises approximately 6.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 2nd biggest position. Old West Investment Management LLC’s holdings in Virtu Financial were worth $15,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VIRT. Riverview Trust Co acquired a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $26,000. Quarry LP raised its position in Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 746 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Virtu Financial in the second quarter valued at $39,000. Abich Financial Wealth Management LLC grew its position in shares of Virtu Financial by 55.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 781 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Virtu Financial during the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the sale, the director now directly owns 24,122 shares in the company, valued at $658,530.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 46.70% of the company’s stock.

Virtu Financial Price Performance

Shares of NASDAQ VIRT opened at $32.43 on Tuesday. The firm has a market cap of $5.05 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 0.50 and a beta of 0.38. The business’s 50 day moving average is $28.41 and its 200-day moving average is $24.02. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $32.77.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.23. The firm had revenue of $385.10 million for 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 company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 EPS. Equities research analysts predict that Virtu Financial, Inc. will post 2.42 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio is currently 67.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Piper Sandler raised their price objective on Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. UBS Group lifted their target price on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. The Goldman Sachs Group increased their price target on Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Citigroup raised their price target on Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus target price of $27.36.

Virtu Financial 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.