USA Financial Formulas Takes $33,000 Position in Virtu Financial, Inc. (NASDAQ:VIRT)

USA Financial Formulas bought a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,097 shares of the financial services provider’s stock, valued at approximately $33,000.

Several other hedge funds have also recently made changes to their positions in VIRT. Quarry LP grew its holdings in Virtu Financial by 79.9% during the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the last quarter. Quadrature Capital Ltd bought a new position in Virtu Financial during the 4th quarter valued at about $247,000. Alaska Permanent Fund Corp grew its holdings in Virtu Financial by 7.1% during the 1st quarter. Alaska Permanent Fund Corp now owns 135,766 shares of the financial services provider’s stock valued at $2,786,000 after purchasing an additional 9,035 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Virtu Financial by 1.2% during the 1st quarter. Congress Asset Management Co. MA now owns 340,258 shares of the financial services provider’s stock valued at $6,982,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Riverview Trust Co bought a new position in Virtu Financial during the 1st quarter valued at about $26,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VIRT shares. The Goldman Sachs Group upped their target price 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. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. UBS Group upped their target price 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. Citigroup upped their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upped their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.79.

Insider Activity at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the 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 sale, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.70% of the stock is currently owned by corporate insiders.

Virtu Financial Price Performance

Shares of VIRT opened at $32.55 on Friday. The company has a 50 day moving average price of $30.66 and a 200-day moving average price of $25.66. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $32.88. The stock has a market capitalization of $5.07 billion, a PE ratio of 16.44, a PEG ratio of 0.52 and a beta of 0.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43.

Virtu Financial (NASDAQ:VIRT) last posted its 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 net margin of 7.59% and a return on equity of 22.74%. The company had revenue of $385.10 million during the quarter, compared to analysts’ expectations of $331.92 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Virtu Financial’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts predict that Virtu Financial, Inc. will post 2.57 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.95%. Virtu Financial’s payout ratio is 48.49%.

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.