Edgestream Partners L.P. Makes New Investment in Virtu Financial, Inc. (NASDAQ:VIRT)

Edgestream Partners L.P. purchased a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 87,539 shares of the financial services provider’s stock, valued at approximately $1,965,000.

Several other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC increased its stake in Virtu Financial by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock worth $81,801,000 after purchasing an additional 124,563 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Virtu Financial by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,868,222 shares of the financial services provider’s stock worth $37,851,000 after acquiring an additional 92,279 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Virtu Financial by 39.2% during the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock worth $27,295,000 after acquiring an additional 342,327 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Virtu Financial by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,418 shares of the financial services provider’s stock valued at $22,760,000 after acquiring an additional 86,313 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Virtu Financial by 1.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock worth $16,408,000 after purchasing an additional 7,721 shares during the period. Institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. The sale was disclosed in a document filed with the SEC, which is available through this link. 46.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on VIRT shares. UBS Group lifted their price target on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. The Goldman Sachs Group boosted their target price on Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Piper Sandler raised their price target on shares of Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, Citigroup increased their target price on shares of Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.36.

Virtu Financial Trading Down 2.3 %

Shares of Virtu Financial stock opened at $31.64 on Friday. The stock has a market cap of $4.93 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.52 and a beta of 0.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $32.88. The business’s 50 day moving average is $29.03 and its 200-day moving average is $24.27.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.23. The firm had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. Equities research analysts predict that Virtu Financial, Inc. will post 2.42 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. Stockholders of record on Sunday, September 1st were issued a $0.24 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.03%. Virtu Financial’s payout ratio is 67.13%.

About Virtu Financial

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.