Legacy Capital Group California Inc. Makes New $250,000 Investment in Virtu Financial, Inc. (NASDAQ:VIRT)

Legacy Capital Group California Inc. bought a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 11,156 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VIRT. O Shaughnessy Asset Management LLC increased its stake in 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 worth $1,510,000 after purchasing an additional 31,884 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Virtu Financial during the first quarter worth $1,238,000. Norges Bank bought a new position in Virtu Financial during the 4th quarter worth about $12,575,000. Diversify Advisory Services LLC bought a new position in Virtu Financial during the 1st quarter worth about $957,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Virtu Financial in the 1st quarter valued at about $1,368,000. 45.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VIRT. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. raised their target price on shares of Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a research report on Thursday, April 25th. The Goldman Sachs Group boosted their price target on shares of Virtu Financial from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Piper Sandler lifted their target price on Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, UBS Group increased their price target on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Virtu Financial has an average rating of “Hold” and a consensus target price of $27.36.

Virtu Financial Stock Performance

NASDAQ VIRT traded up $0.03 during trading on Wednesday, reaching $29.73. The company’s stock had a trading volume of 534,743 shares, compared to its average volume of 1,285,712. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $30.54. The firm has a 50 day moving average price of $25.57 and a 200 day moving average price of $22.23. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 0.50 and a beta of 0.39. 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 (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The company had revenue of $385.10 million during the quarter, compared to analysts’ expectations of $331.92 million. During the same period in the prior year, the company earned $0.29 EPS. Virtu Financial’s revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts anticipate that Virtu Financial, Inc. will post 2.29 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.23%. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insider Activity

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 24,122 shares in the company, valued at approximately $658,530.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 46.70% of the company’s stock.

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.