Peregrine Capital Management LLC Lowers Stock Position in Virtu Financial, Inc. $VIRT

Peregrine Capital Management LLC cut its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 205,636 shares of the financial services provider’s stock after selling 43,197 shares during the period. Peregrine Capital Management LLC owned 0.13% of Virtu Financial worth $9,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VIRT. Bessemer Group Inc. grew its position in shares of Virtu Financial by 96.0% during the second quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 285 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Virtu Financial by 243.0% during the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 554 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 942 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Virtu Financial during the first quarter worth $54,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Virtu Financial by 410.6% during the second quarter. Farther Finance Advisors LLC now owns 1,297 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,043 shares during the period. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VIRT has been the subject of several recent research reports. Piper Sandler increased their price target on Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. UBS Group reaffirmed a “neutral” rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Morgan Stanley increased their price target on Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group decreased their price target on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.43.

Insider Activity

In related news, COO Brett Fairclough sold 90,701 shares of Virtu Financial 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 available at this link. 47.20% of the stock is owned by company insiders.

Virtu Financial Trading Up 1.0%

NASDAQ:VIRT opened at $33.89 on Tuesday. The company has a market capitalization of $5.18 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. 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 $30.51 and a 52-week high of $45.77. The stock has a fifty day simple moving average of $36.57 and a 200-day simple moving average of $39.97.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $274.00 million during the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. On average, equities research analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial’s payout ratio is 21.82%.

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.