New England Research & Management Inc. Takes $470,000 Position in Virtu Financial, Inc. $VIRT

New England Research & Management Inc. purchased a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,500 shares of the financial services provider’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VIRT. Gallacher Capital Management LLC purchased a new position in shares of Virtu Financial during the 2nd quarter worth $549,000. Bangor Savings Bank lifted its stake in shares of Virtu Financial by 3.9% in the second quarter. Bangor Savings Bank now owns 29,197 shares of the financial services provider’s stock worth $1,308,000 after buying an additional 1,084 shares in the last quarter. HBW Advisory Services LLC grew its holdings in shares of Virtu Financial by 35.4% in the second quarter. HBW Advisory Services LLC now owns 21,929 shares of the financial services provider’s stock valued at $982,000 after purchasing an additional 5,728 shares in the last quarter. Voya Investment Management LLC raised its position in Virtu Financial by 2.8% in the 1st quarter. Voya Investment Management LLC now owns 10,002 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 270 shares during the last quarter. Finally, Militia Capital Partners LP grew its stake in shares of Virtu Financial by 357.1% during the 1st quarter. Militia Capital Partners LP now owns 6,400 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 45.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VIRT shares. Wall Street Zen downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Piper Sandler raised their price target on Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Morgan Stanley boosted their price target on Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group restated a “neutral” rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of Virtu Financial stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $42.40, for a total value of $3,845,722.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 47.20% of the stock is owned by corporate insiders.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $36.18 on Tuesday. The firm has a 50 day moving average of $42.12 and a 200 day moving average of $40.49. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. 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 $29.82 and a 52 week high of $45.77.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Virtu Financial’s dividend payout ratio (DPR) is presently 21.82%.

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.