Virtu Financial (NASDAQ:VIRT) EVP Stephen Cavoli Sells 11,630 Shares

Virtu Financial, Inc. (NASDAQ:VIRT) EVP Stephen Cavoli sold 11,630 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $38.66, for a total value of $449,615.80. Following the transaction, the executive vice president owned 204,561 shares of the company’s stock, valued at approximately $7,908,328.26. This trade represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Stephen Cavoli also recently made the following trade(s):

• On Thursday, February 12th, Stephen Cavoli sold 30,000 shares of Virtu Financial stock. The stock was sold at an average price of $37.61, for a total transaction of $1,128,300.00.

Virtu Financial Price Performance

Shares of NASDAQ:VIRT opened at $38.38 on Friday. The company has a market capitalization of $5.87 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.14 and a beta of 0.61. Virtu Financial, Inc. has a 1-year low of $31.55 and a 1-year high of $45.77. The firm’s 50 day simple moving average is $35.69 and its two-hundred day simple moving average is $36.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.12 by $0.73. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The firm had revenue of $969.89 million for the quarter, compared to the consensus estimate of $513.51 million. During the same period last year, the firm earned $1.14 EPS. The company’s revenue was up 16.3% on a year-over-year basis. Research analysts expect that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, February 27th. Virtu Financial’s payout ratio is presently 18.71%.

Institutional Trading of Virtu Financial

Several hedge funds have recently modified their holdings of VIRT. Summit Global Investments bought a new position in Virtu Financial in the 3rd quarter valued at $1,109,000. Pullen Investment Management LLC boosted its stake in shares of Virtu Financial by 842.9% during the third quarter. Pullen Investment Management LLC now owns 61,154 shares of the financial services provider’s stock valued at $2,171,000 after purchasing an additional 54,668 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Virtu Financial by 23.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,183,268 shares of the financial services provider’s stock valued at $40,373,000 after purchasing an additional 222,862 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Virtu Financial by 59.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 90,206 shares of the financial services provider’s stock worth $3,202,000 after purchasing an additional 33,762 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Virtu Financial by 1.2% in the 2nd quarter. Franklin Resources Inc. now owns 229,352 shares of the financial services provider’s stock worth $10,273,000 after buying an additional 2,634 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on VIRT. Morgan Stanley lifted their target price on Virtu Financial from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Piper Sandler lifted their price objective on shares of Virtu Financial from $51.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Bank of America raised shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group upped their target price on shares of Virtu Financial from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Virtu Financial Company Profile

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.