Diversify Advisory Services LLC Sells 8,241 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Diversify Advisory Services LLC lowered its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 46.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,474 shares of the financial services provider’s stock after selling 8,241 shares during the quarter. Diversify Advisory Services LLC’s holdings in Virtu Financial were worth $311,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VIRT. Principal Financial Group Inc. purchased a new position in Virtu Financial in the second quarter worth $9,751,000. Bank of New York Mellon Corp grew its position in Virtu Financial by 39.2% in 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 in the last quarter. Interval Partners LP purchased a new position in Virtu Financial in the first quarter worth $5,050,000. Susquehanna Fundamental Investments LLC purchased a new position in Virtu Financial in the first quarter worth $4,349,000. Finally, Public Sector Pension Investment Board purchased a new position in Virtu Financial in the second quarter worth $4,371,000. Institutional investors own 45.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 46.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VIRT has been the subject of several research reports. 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 report on Monday, September 30th. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of 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 cut their price target 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. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Virtu Financial has an average rating of “Hold” and an average target price of $29.50.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $30.96 on Friday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.46 and a beta of 0.38. The company has a 50-day moving average price of $31.49 and a 200-day moving average price of $26.74. The company has a current ratio of 1.14, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $33.55.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, equities analysts anticipate that Virtu Financial, Inc. will post 2.66 EPS for the current year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Sunday, December 1st. Virtu Financial’s payout ratio is currently 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.