Phase 2 Partners LLC Boosts Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Phase 2 Partners LLC boosted its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 34.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,979 shares of the financial services provider’s stock after purchasing an additional 47,380 shares during the quarter. Virtu Financial comprises approximately 3.4% of Phase 2 Partners LLC’s holdings, making the stock its 16th largest holding. Phase 2 Partners LLC owned 0.12% of Virtu Financial worth $5,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Virtu Financial by 38.0% during the third quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock valued at $151,511,000 after purchasing an additional 1,368,419 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Virtu Financial by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock worth $81,801,000 after acquiring an additional 124,563 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Virtu Financial by 39.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after acquiring an additional 342,327 shares during the period. Los Angeles Capital Management LLC bought a new position in Virtu Financial in the 3rd quarter valued at $29,815,000. Finally, Old West Investment Management LLC increased its stake in Virtu Financial by 4.3% in the second quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock worth $15,298,000 after purchasing an additional 28,199 shares during the period. 45.78% of the stock is owned by institutional investors.

Virtu Financial Stock Up 0.4 %

Shares of VIRT opened at $37.95 on Wednesday. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.59 and a beta of 0.43. Virtu Financial, Inc. has a 52 week low of $16.02 and a 52 week high of $38.45. The stock’s 50-day moving average price is $33.50 and its 200-day moving average price 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 issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued 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 analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley boosted their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America decreased their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a research note on Thursday, October 24th. Finally, Citigroup boosted their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Five investment 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 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.