Convergence Investment Partners LLC Buys Shares of 41,936 Virtu Financial Inc (NASDAQ:VIRT)

Convergence Investment Partners LLC bought a new stake in shares of Virtu Financial Inc (NASDAQ:VIRT) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,936 shares of the financial services provider’s stock, valued at approximately $990,000.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in Virtu Financial during the 4th quarter valued at about $58,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Virtu Financial by 26.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,040 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 838 shares during the period. US Bancorp DE boosted its stake in Virtu Financial by 123.7% during the 1st quarter. US Bancorp DE now owns 5,759 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 3,185 shares during the period. State of Tennessee Treasury Department acquired a new position in Virtu Financial during the 1st quarter valued at about $123,000. Finally, Victory Capital Management Inc. boosted its stake in Virtu Financial by 14.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,909 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 767 shares during the period. 63.02% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Joseph C. Grano sold 10,133 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $24.33, for a total transaction of $246,535.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Sector Pension Investme Public sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $22.75, for a total transaction of $159,250,000.00. Following the sale, the insider now owns 11,669,062 shares in the company, valued at approximately $265,471,160.50. The disclosure for this sale can be found here. Insiders have sold 12,510,133 shares of company stock worth $286,546,536 in the last 90 days. 63.70% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on VIRT. BidaskClub lowered shares of Virtu Financial from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $31.00 price target on shares of Virtu Financial in a research note on Friday, June 19th. Compass Point upped their price target on shares of Virtu Financial from $23.50 to $28.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup upped their price target on shares of Virtu Financial from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Virtu Financial presently has an average rating of “Hold” and a consensus price target of $25.17.

Shares of NASDAQ VIRT traded up $0.54 during midday trading on Friday, reaching $24.80. The company’s stock had a trading volume of 2,175,326 shares, compared to its average volume of 1,166,361. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.48. The company has a 50 day moving average price of $24.30 and a 200 day moving average price of $21.68. Virtu Financial Inc has a one year low of $14.94 and a one year high of $26.82. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 9.22 and a beta of -0.44.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.66. Virtu Financial had a net margin of 7.79% and a return on equity of 38.58%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $563.55 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 176.6% compared to the same quarter last year. Research analysts anticipate that Virtu Financial Inc will post 5.18 earnings per share for the current fiscal year.

Virtu Financial Company Profile

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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

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