Redwood Investment Management LLC Acquires New Shares in Virtu Financial, Inc. $VIRT

Redwood Investment Management LLC acquired a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,481 shares of the financial services provider’s stock, valued at approximately $1,314,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Virtu Financial by 1.8% during the first quarter. Vanguard Group Inc. now owns 9,568,548 shares of the financial services provider’s stock valued at $364,753,000 after buying an additional 165,396 shares during the last quarter. Invesco Ltd. lifted its holdings in Virtu Financial by 83.6% in the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider’s stock valued at $56,157,000 after acquiring an additional 670,774 shares during the period. Northern Trust Corp lifted its holdings in Virtu Financial by 48.2% in the fourth quarter. Northern Trust Corp now owns 1,448,866 shares of the financial services provider’s stock valued at $51,696,000 after acquiring an additional 471,526 shares during the period. Balyasny Asset Management L.P. bought a new position in Virtu Financial in the fourth quarter valued at about $39,993,000. Finally, Allianz Asset Management GmbH lifted its holdings in Virtu Financial by 69.5% in the first quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider’s stock valued at $40,522,000 after acquiring an additional 435,958 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Stock Up 1.9%

NASDAQ VIRT opened at $43.18 on Wednesday. The stock’s 50-day moving average price is $43.22 and its 200-day moving average price is $40.17. 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 $29.74 and a 52 week high of $45.77. The company has a market capitalization of $6.60 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Virtu Financial’s dividend payout ratio (DPR) is currently 21.82%.

Insider Activity

In related news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $42.40, for a total transaction of $3,845,722.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 47.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VIRT. Wall Street Zen downgraded Virtu Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Bank of America downgraded Virtu Financial from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, May 15th. Piper Sandler increased their target price on Virtu Financial from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Morgan Stanley increased their target price on Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, July 15th. Finally, UBS Group reissued a “neutral” rating and issued a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.75.

Virtu Financial Company 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.