Navellier & Associates Inc. Invests $432,000 in Virtu Financial, Inc. (NASDAQ:VIRT)

Navellier & Associates Inc. bought a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,189 shares of the financial services provider’s stock, valued at approximately $432,000.

A number of other hedge funds have also recently bought and sold shares of VIRT. O Shaughnessy Asset Management LLC lifted its stake in shares of Virtu Financial by 76.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 31,884 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Virtu Financial in the 3rd quarter worth approximately $1,971,000. Seven Eight Capital LP lifted its position in shares of Virtu Financial by 41.9% in the 2nd quarter. Seven Eight Capital LP now owns 94,608 shares of the financial services provider’s stock worth $2,124,000 after acquiring an additional 27,948 shares during the period. XTX Topco Ltd bought a new stake in shares of Virtu Financial in the 2nd quarter worth approximately $381,000. Finally, Scientech Research LLC bought a new stake in shares of Virtu Financial during the second quarter valued at approximately $395,000. 45.78% of the stock is owned by institutional investors.

Virtu Financial Stock Up 2.2 %

NASDAQ VIRT opened at $37.79 on Friday. The stock’s 50 day simple moving average is $32.62 and its 200 day simple moving average is $28.14. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $37.89. The firm has a market cap of $5.84 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million during the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. As a group, sell-side analysts forecast that Virtu Financial, Inc. will post 2.7 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

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

Analyst Ratings Changes

VIRT has been the subject of several research reports. Citigroup raised their target price on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a research note on Thursday, October 24th. Morgan Stanley increased 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 decreased their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group increased their target price on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.