Pitcairn Co. cut its holdings in Virtu Financial Inc (NASDAQ:VIRT) by 28.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,671 shares of the financial services provider’s stock after selling 4,983 shares during the quarter. Pitcairn Co.’s holdings in Virtu Financial were worth $299,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its stake in Virtu Financial by 238.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,337,729 shares of the financial services provider’s stock valued at $55,170,000 after purchasing an additional 1,646,842 shares during the period. Wells Fargo & Company MN increased its stake in Virtu Financial by 162.8% in the first quarter. Wells Fargo & Company MN now owns 1,424,816 shares of the financial services provider’s stock valued at $29,665,000 after purchasing an additional 882,732 shares during the period. APG Asset Management N.V. acquired a new position in Virtu Financial in the first quarter valued at $26,371,000. Bank of New York Mellon Corp increased its stake in Virtu Financial by 107.7% in the fourth quarter. Bank of New York Mellon Corp now owns 847,625 shares of the financial services provider’s stock valued at $13,554,000 after purchasing an additional 439,511 shares during the period. Finally, Geode Capital Management LLC increased its stake in Virtu Financial by 7.9% in the first quarter. Geode Capital Management LLC now owns 841,022 shares of the financial services provider’s stock valued at $17,509,000 after purchasing an additional 61,834 shares during the period. Institutional investors own 63.02% of the company’s stock.
VIRT stock opened at $24.80 on Friday. The company has a market cap of $4.75 billion, a P/E ratio of 18.51 and a beta of -0.44. Virtu Financial Inc has a 52 week low of $14.94 and a 52 week high of $26.82. The company’s 50-day moving average price is $24.30 and its 200 day moving average price is $21.68. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.48.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.66. Virtu Financial had a net margin of 7.79% and a return on equity of 38.58%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $563.55 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue was up 176.6% on a year-over-year basis. On average, equities research analysts expect that Virtu Financial Inc will post 5.18 earnings per share for the current year.
A number of research analysts have commented on the stock. UBS Group lifted their price objective on shares of Virtu Financial from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $26.00 target price (down previously from $29.00) on shares of Virtu Financial in a report on Thursday, April 16th. BidaskClub downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, May 14th. Finally, Compass Point lifted their target price on shares of Virtu Financial from $23.50 to $28.00 and gave the company a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Virtu Financial presently has an average rating of “Hold” and a consensus target price of $25.17.
In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek sold 5,500,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.10, for a total value of $127,050,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph C. Grano sold 10,133 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.33, for a total transaction of $246,535.89. The disclosure for this sale can be found here. Insiders sold 12,510,133 shares of company stock worth $286,546,536 in the last ninety days. Insiders own 63.70% of the company’s stock.
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.
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