Virtu Financial, Inc. (NASDAQ:VIRT) Shares Bought by Phase 2 Partners LLC

Phase 2 Partners LLC grew its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 34.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,979 shares of the financial services provider’s stock after purchasing an additional 47,380 shares during the period. Virtu Financial makes up about 3.4% of Phase 2 Partners LLC’s holdings, making the stock its 16th largest holding. Phase 2 Partners LLC’s holdings in Virtu Financial were worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. USA Financial Formulas acquired a new stake in Virtu Financial during the third quarter worth $33,000. International Assets Investment Management LLC purchased a new position in shares of Virtu Financial during the second quarter worth $39,000. Innealta Capital LLC acquired a new stake in shares of Virtu Financial in the second quarter valued at $46,000. First Horizon Advisors Inc. increased its stake in Virtu Financial by 21.0% during the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC increased its stake in Virtu Financial by 22.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock worth $60,000 after buying an additional 487 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $37.95 on Wednesday. The stock has a market cap of $5.87 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.59 and a beta of 0.43. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.45. The firm’s fifty day simple moving average is $33.50 and its 200-day simple moving average is $29.01. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. Virtu Financial’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Analysts expect that Virtu Financial, Inc. will post 2.71 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, November 29th. Virtu Financial’s payout ratio is 48.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a report on Thursday, October 24th. Morgan Stanley increased their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Bank of America dropped their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Citigroup upped their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.50.

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.