Impact Partnership Wealth LLC Buys 5,189 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Impact Partnership Wealth LLC grew its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 70.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,591 shares of the financial services provider’s stock after acquiring an additional 5,189 shares during the period. Impact Partnership Wealth LLC’s holdings in Virtu Financial were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VIRT. Financial Management Professionals Inc. bought a new stake in shares of Virtu Financial during the first quarter worth about $32,000. Penserra Capital Management LLC bought a new position in shares of Virtu Financial during the 1st quarter worth $54,000. SBI Securities Co. Ltd. raised its holdings in shares of Virtu Financial by 26.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 345 shares in the last quarter. Huntington National Bank increased its stake in Virtu Financial by 528.9% in the 4th quarter. Huntington National Bank now owns 3,182 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,676 shares during the period. Finally, Wexford Capital LP purchased a new position in Virtu Financial in the 4th quarter worth approximately $203,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VIRT. Wall Street Zen lowered Virtu Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. UBS Group restated a “neutral” rating and set a $40.00 price target (up from $38.00) on shares of Virtu Financial in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on Virtu Financial from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Evercore ISI lifted their price objective on Virtu Financial from $41.00 to $42.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Finally, Bank of America downgraded Virtu Financial from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Virtu Financial has an average rating of “Hold” and a consensus price target of $39.13.

Virtu Financial Price Performance

Shares of Virtu Financial stock traded down $0.72 on Friday, reaching $44.40. The company’s stock had a trading volume of 846,480 shares, compared to its average volume of 1,027,916. The stock has a 50-day moving average price of $42.42 and a 200-day moving average price of $39.22. The company has a market capitalization of $6.85 billion, a P/E ratio of 12.83, a PEG ratio of 1.14 and a beta of 0.70. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 52-week low of $26.50 and a 52-week high of $45.77.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.31. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. The company had revenue of $497.14 million during the quarter, compared to analysts’ expectations of $444.23 million. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. Analysts expect that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, May 30th. Virtu Financial’s dividend payout ratio (DPR) is presently 27.75%.

Insider Buying and Selling

In other news, Director John Nixon sold 6,965 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total value of $298,241.30. Following the completion of the sale, the director owned 33,923 shares of the company’s stock, valued at approximately $1,452,582.86. This represents a 17.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas A. Cifu sold 177,561 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $38.88, for a total transaction of $6,903,571.68. Following the sale, the chief executive officer directly owned 231,306 shares in the company, valued at $8,993,177.28. This trade represents a 43.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 362,846 shares of company stock valued at $14,079,615. 47.20% of the stock is currently owned by company insiders.

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.