Public Sector Pension Investment Board Sells 20,800 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Public Sector Pension Investment Board trimmed its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 10.7% in the third quarter, Holdings Channel reports. The fund owned 173,909 shares of the financial services provider’s stock after selling 20,800 shares during the period. Public Sector Pension Investment Board’s holdings in Virtu Financial were worth $5,297,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. FMR LLC grew its position in shares of Virtu Financial by 38.0% in the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock valued at $151,511,000 after purchasing an additional 1,368,419 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Virtu Financial by 3.5% in the second quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after buying an additional 124,563 shares during the period. Bank of New York Mellon Corp increased its position 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 in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Virtu Financial during the third quarter worth $29,815,000. Finally, Old West Investment Management LLC lifted its position in Virtu Financial by 4.3% in the 2nd quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock valued at $15,298,000 after acquiring an additional 28,199 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors.

Virtu Financial Stock Down 0.1 %

NASDAQ:VIRT opened at $37.31 on Monday. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $38.45. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $33.23 and its two-hundred day moving average price is $28.77.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share 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 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 firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Equities research analysts expect that Virtu Financial, Inc. will post 2.71 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.57%. Virtu Financial’s payout ratio is 48.24%.

Analyst Ratings Changes

VIRT has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a report on Thursday, October 24th. Citigroup increased their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. 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 note on Monday, September 30th. Morgan Stanley raised 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 note on Thursday, October 17th. Finally, Bank of America cut their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average 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.