Quarry LP Lowers Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Quarry LP reduced its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 21.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,812 shares of the financial services provider’s stock after selling 1,318 shares during the quarter. Quarry LP’s holdings in Virtu Financial were worth $147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D purchased a new stake in Virtu Financial in the 3rd quarter valued at $1,971,000. Seven Eight Capital LP increased its position in shares of Virtu Financial by 41.9% during the 2nd quarter. Seven Eight Capital LP now owns 94,608 shares of the financial services provider’s stock valued at $2,124,000 after purchasing an additional 27,948 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Virtu Financial by 124.7% during the 3rd quarter. Bridgewater Associates LP now owns 53,785 shares of the financial services provider’s stock valued at $1,638,000 after purchasing an additional 29,844 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Virtu Financial during the 2nd quarter valued at $381,000. Finally, Scientech Research LLC purchased a new stake in shares of Virtu Financial during the 2nd quarter valued at $395,000. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Stock Down 2.0 %

VIRT stock opened at $36.30 on Friday. 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 $5.61 billion, a price-to-earnings ratio of 18.24, a PEG 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 stock has a fifty day moving average of $33.86 and a 200-day moving average of $29.22.

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

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.64%. Virtu Financial’s dividend payout ratio is currently 48.24%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VIRT. Morgan Stanley raised their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America decreased their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group raised their target price on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. Finally, Citigroup increased 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 given a buy rating to the company. Based on data from MarketBeat.com, Virtu Financial currently has an average rating of “Hold” and a consensus price target of $29.50.

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.