USA Financial Formulas Raises Stake in Virtu Financial, Inc. (NASDAQ:VIRT)

USA Financial Formulas increased its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 910.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,085 shares of the financial services provider’s stock after acquiring an additional 9,988 shares during the quarter. USA Financial Formulas’ holdings in Virtu Financial were worth $396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Abich Financial Wealth Management LLC raised its position in Virtu Financial by 22.2% in the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 487 shares during the period. HBW Advisory Services LLC raised its holdings in Virtu Financial by 6.8% in the 4th quarter. HBW Advisory Services LLC now owns 7,974 shares of the financial services provider’s stock valued at $285,000 after buying an additional 509 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Virtu Financial by 3.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock valued at $436,000 after buying an additional 587 shares during the last quarter. Atria Investments Inc boosted its stake in Virtu Financial by 7.2% during the third quarter. Atria Investments Inc now owns 10,724 shares of the financial services provider’s stock worth $327,000 after buying an additional 717 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Virtu Financial by 3.0% during the third quarter. QRG Capital Management Inc. now owns 25,167 shares of the financial services provider’s stock valued at $767,000 after acquiring an additional 728 shares during the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VIRT shares. Bank of America lowered their price objective on shares of 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 upped their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Citigroup lifted their target price on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Piper Sandler increased their price target on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Virtu Financial has an average rating of “Hold” and an average price target of $30.21.

Virtu Financial Price Performance

VIRT stock opened at $35.99 on Thursday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.47 and a beta of 0.45. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average price of $36.14 and a 200 day moving average price of $31.80.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly 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 net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same period last year, the business earned $0.40 EPS. Virtu Financial’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Virtu Financial, Inc. will post 2.8 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.67%. Virtu Financial’s dividend payout ratio is presently 48.24%.

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.