Eagle Ridge Investment Management Buys New Shares in Virtu Financial, Inc. (NASDAQ:VIRT)

Eagle Ridge Investment Management bought a new stake in Virtu Financial, Inc. (NASDAQ:VIRT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 7,540 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also made changes to their positions in VIRT. Riverview Trust Co bought a new stake in shares of Virtu Financial in the first quarter valued at about $26,000. USA Financial Formulas bought a new stake in shares of Virtu Financial in the third quarter valued at about $33,000. International Assets Investment Management LLC bought a new position in Virtu Financial during the second quarter worth about $39,000. Abich Financial Wealth Management LLC lifted its stake in Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the period. Finally, Innealta Capital LLC bought a new position in Virtu Financial during the second quarter worth about $46,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Stock Performance

NASDAQ VIRT opened at $30.86 on Friday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 0.49 and a beta of 0.38. The company has a 50 day moving average of $31.38 and a 200-day moving average of $26.41. 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 $33.55.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 30th. Virtu Financial’s payout ratio is 67.13%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VIRT shares. Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research note on Thursday. Bank of America cut their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Finally, The Goldman Sachs Group raised their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.50.

Insider Activity at Virtu Financial

In related 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 value of $147,420.00. Following the completion of the sale, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 46.70% of the stock is currently owned by company insiders.

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.