Highland Capital Management LLC Invests $208,000 in Virtu Financial, Inc. $VIRT

Highland Capital Management LLC acquired a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRTFree Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,651 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in shares of Virtu Financial in the 2nd quarter valued at about $11,475,000. QRG Capital Management Inc. increased its stake in Virtu Financial by 123.6% in the second quarter. QRG Capital Management Inc. now owns 51,959 shares of the financial services provider’s stock valued at $2,327,000 after purchasing an additional 28,720 shares in the last quarter. Vicus Capital acquired a new stake in Virtu Financial in the second quarter worth $288,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Virtu Financial by 59.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 279,161 shares of the financial services provider’s stock worth $12,504,000 after purchasing an additional 103,980 shares in the last quarter. Finally, USA Financial Formulas grew its holdings in shares of Virtu Financial by 581.4% in the 2nd quarter. USA Financial Formulas now owns 5,778 shares of the financial services provider’s stock valued at $259,000 after buying an additional 4,930 shares during the period. Institutional investors own 45.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on VIRT shares. The Goldman Sachs Group dropped their price objective on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday. 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 objective on Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group restated a “neutral” rating and set a $45.00 target price (up 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus price target of $40.88.

Read Our Latest Stock Report on VIRT

Virtu Financial Stock Performance

Shares of VIRT stock opened at $32.43 on Tuesday. 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 12 month low of $29.82 and a 12 month high of $45.77. The company’s fifty day simple moving average is $39.41 and its 200-day simple moving average is $40.35. The firm has a market cap of $4.96 billion, a PE ratio of 9.37, a P/E/G ratio of 1.14 and a beta of 0.62.

Virtu Financial Announces Dividend

The business also recently declared 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 yield of 3.0%. Virtu Financial’s dividend payout ratio is currently 21.82%.

Insider Buying and Selling at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the business’s stock in a transaction on 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 the SEC website. Corporate insiders own 47.20% of the company’s stock.

Virtu Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

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