Connor Clark & Lunn Investment Management Ltd. Has $10.01 Million Stake in Virtu Financial, Inc. (NASDAQ:VIRT)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 400.0% during the third quarter, Holdings Channel.com reports. The firm owned 328,546 shares of the financial services provider’s stock after acquiring an additional 262,835 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Virtu Financial were worth $10,008,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its position in Virtu Financial by 28.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,199 shares of the financial services provider’s stock worth $291,000 after buying an additional 3,162 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Virtu Financial by 14.1% in the first quarter. Sei Investments Co. now owns 124,932 shares of the financial services provider’s stock valued at $2,564,000 after purchasing an additional 15,435 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Virtu Financial by 76.5% in 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 during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Virtu Financial by 3.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 40,908 shares of the financial services provider’s stock worth $841,000 after buying an additional 1,217 shares in the last quarter. Finally, BOKF NA boosted its position in Virtu Financial by 25.3% in the 1st quarter. BOKF NA now owns 29,425 shares of the financial services provider’s stock valued at $619,000 after buying an additional 5,945 shares during the last quarter. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Stock Up 2.2 %

Shares of NASDAQ:VIRT opened at $37.79 on Friday. The company has a 50 day moving average price of $32.62 and a two-hundred day moving average price of $28.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $5.84 billion, a PE ratio of 18.99, a PEG ratio of 0.58 and a beta of 0.38. Virtu Financial, Inc. has a 52 week low of $16.02 and a 52 week high of $37.89.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Analysts forecast that Virtu Financial, Inc. will post 2.7 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s dividend payout ratio is currently 48.24%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VIRT shares. Citigroup upped their price target on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. Morgan Stanley lifted 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 report on Thursday, October 17th. Bank of America dropped 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. Finally, The Goldman Sachs Group raised their price objective 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.