Algert Global LLC Sells 73,479 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Algert Global LLC lessened its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 46.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,776 shares of the financial services provider’s stock after selling 73,479 shares during the quarter. Algert Global LLC owned about 0.05% of Virtu Financial worth $2,552,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Virtu Financial in the third quarter valued at $29,815,000. Principal Financial Group Inc. purchased a new position in shares of Virtu Financial in the 2nd quarter worth $9,751,000. Bank of New York Mellon Corp grew its stake in shares of Virtu Financial by 39.2% in the 2nd 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 buying an additional 342,327 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Virtu Financial by 400.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,546 shares of the financial services provider’s stock worth $10,008,000 after buying an additional 262,835 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Virtu Financial during the 2nd quarter valued at about $4,371,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Trading Down 0.2 %

NASDAQ VIRT opened at $36.71 on Wednesday. The stock has a market cap of $5.68 billion, a PE ratio of 18.45, a PEG ratio of 0.57 and a beta of 0.38. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $38.09. The company’s 50-day moving average price is $32.80 and its 200-day moving average price is $28.42. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $388.00 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.40 earnings per share. Equities research analysts forecast that Virtu Financial, Inc. will post 2.71 earnings per share for the current year.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s payout ratio is 48.24%.

Analyst Ratings Changes

VIRT has been the topic of several analyst reports. Bank of America reduced their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Morgan Stanley raised their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective on shares of Virtu Financial in a research report on Thursday, October 24th. Finally, Citigroup raised their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.50.

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.