Virtu Financial (NASDAQ:VIRT) major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $27.16, for a total value of $93,702,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Virtu Financial opened at $30.30 on Thursday, according to MarketBeat. The company has a market cap of $5.61 billion, a PE ratio of 53.16 and a beta of -0.59. Virtu Financial has a one year low of $30.13 and a one year high of $30.65. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77.
Virtu Financial (NASDAQ:VIRT) last released its earnings results on Friday, May 4th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The firm had revenue of $406.10 million for the quarter, compared to analysts’ expectations of $307.24 million. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. The company’s quarterly revenue was up 190.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. equities research analysts predict that Virtu Financial will post 2.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. Virtu Financial’s dividend payout ratio is 168.42%.
Virtu Financial declared that its board has approved a share repurchase plan on Thursday, February 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Virtu Financial by 7.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 28,682 shares of the financial services provider’s stock valued at $525,000 after buying an additional 1,891 shares during the last quarter. Swiss National Bank grew its stake in Virtu Financial by 3.1% in the first quarter. Swiss National Bank now owns 83,700 shares of the financial services provider’s stock worth $2,762,000 after purchasing an additional 2,500 shares in the last quarter. Geode Capital Management LLC grew its stake in Virtu Financial by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 340,781 shares of the financial services provider’s stock worth $6,236,000 after purchasing an additional 3,462 shares in the last quarter. Penserra Capital Management LLC grew its stake in Virtu Financial by 73.2% in the fourth quarter. Penserra Capital Management LLC now owns 9,415 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 3,979 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Virtu Financial by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 558,629 shares of the financial services provider’s stock worth $18,435,000 after purchasing an additional 4,926 shares in the last quarter. 46.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Evercore ISI upped their price objective on Virtu Financial from $27.00 to $38.00 and gave the company an “in-line” rating in a research report on Friday, May 4th. Goldman Sachs upped their price objective on Virtu Financial from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, May 7th. Zacks Investment Research upgraded Virtu Financial from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research report on Friday, February 2nd. Sandler O’Neill upped their target price on Virtu Financial from $19.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase raised Virtu Financial from a “hold” rating to a “neutral” rating and cut their target price for the company from $29.00 to $28.00 in a research note on Friday, May 11th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.13.
Virtu Financial Company Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
Receive News & Ratings for Virtu Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial and related companies with MarketBeat.com's FREE daily email newsletter.