USA Financial Formulas Raises Position in Virtu Financial, Inc. (NASDAQ:VIRT)

USA Financial Formulas lifted its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 910.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,085 shares of the financial services provider’s stock after purchasing an additional 9,988 shares during the quarter. USA Financial Formulas’ holdings in Virtu Financial were worth $396,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of Virtu Financial during the third quarter valued at $1,081,000. State of New Jersey Common Pension Fund D purchased a new stake in Virtu Financial during the 3rd quarter valued at about $1,971,000. Barclays PLC increased its holdings in shares of Virtu Financial by 60.2% in the third quarter. Barclays PLC now owns 55,486 shares of the financial services provider’s stock valued at $1,691,000 after purchasing an additional 20,843 shares during the period. Seven Eight Capital LP raised its stake in shares of Virtu Financial by 41.9% in the second quarter. Seven Eight Capital LP now owns 94,608 shares of the financial services provider’s stock worth $2,124,000 after purchasing an additional 27,948 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Virtu Financial by 124.7% in the third quarter. Bridgewater Associates LP now owns 53,785 shares of the financial services provider’s stock worth $1,638,000 after purchasing an additional 29,844 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VIRT. Piper Sandler upped their target price on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Morgan Stanley boosted their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup lifted their price target on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America lowered their price objective on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Virtu Financial has an average rating of “Hold” and a consensus price target of $30.21.

Virtu Financial Trading Up 1.6 %

Shares of NASDAQ:VIRT opened at $35.99 on Thursday. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.45. The business’s 50 day moving average price is $36.14 and its 200-day moving average price is $31.80. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. Virtu Financial, Inc. has a 1 year low of $16.02 and a 1 year high of $38.45.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same period last year, the company posted $0.40 EPS. Virtu Financial’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts forecast that Virtu Financial, Inc. will post 2.8 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, November 29th. Virtu Financial’s dividend payout ratio is currently 48.24%.

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.