Hillsdale Investment Management Inc. Has $995,000 Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Hillsdale Investment Management Inc. lowered its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 12.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,900 shares of the financial services provider’s stock after selling 3,920 shares during the period. Hillsdale Investment Management Inc.’s holdings in Virtu Financial were worth $995,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Virtu Financial by 13.0% during the fourth quarter. Blue Trust Inc. now owns 2,794 shares of the financial services provider’s stock worth $100,000 after buying an additional 322 shares in the last quarter. Hanseatic Management Services Inc. increased its position in Virtu Financial by 1.2% during the fourth quarter. Hanseatic Management Services Inc. now owns 30,132 shares of the financial services provider’s stock worth $1,075,000 after acquiring an additional 371 shares during the period. HBW Advisory Services LLC raised its stake 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 worth $285,000 after purchasing an additional 509 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Virtu Financial by 172.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 551 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Virtu Financial in the 4th quarter valued at about $25,000. 45.78% of the stock is owned by institutional investors.

Virtu Financial Stock Performance

NASDAQ VIRT opened at $37.58 on Monday. The firm’s 50 day simple moving average is $37.18 and its 200 day simple moving average is $35.12. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.43 and a beta of 0.57. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. Virtu Financial, Inc. has a 1 year low of $20.07 and a 1 year high of $41.38.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. As a group, research analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Friday, February 28th. Virtu Financial’s payout ratio is 32.32%.

Analysts Set New Price Targets

Several research analysts have recently commented on VIRT shares. Piper Sandler raised their target price on shares of Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on Virtu Financial from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.36.

Insider Transactions at Virtu Financial

In other news, COO Brett Fairclough sold 72,967 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the completion of the transaction, the chief operating officer now directly owns 90,749 shares in the company, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Cavoli sold 34,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $37.41, for a total value of $1,271,940.00. Following the sale, the executive vice president now directly owns 157,703 shares in the company, valued at approximately $5,899,669.23. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,967 shares of company stock valued at $5,213,964. 46.70% of the stock is currently owned by insiders.

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.