NBC Securities Inc. Decreases Position in Virtu Financial, Inc. (NASDAQ:VIRT)

NBC Securities Inc. lessened its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,927 shares of the financial services provider’s stock after selling 1,728 shares during the period. NBC Securities Inc.’s holdings in Virtu Financial were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Virtu Financial by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock worth $81,801,000 after purchasing an additional 124,563 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Virtu Financial by 39.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock worth $27,295,000 after purchasing an additional 342,327 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Virtu Financial by 1.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock worth $16,408,000 after purchasing an additional 7,721 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Virtu Financial by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock worth $15,296,000 after purchasing an additional 9,826 shares during the last quarter. Finally, Old West Investment Management LLC lifted its position in shares of Virtu Financial by 4.3% during the 2nd quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock worth $15,298,000 after purchasing an additional 28,199 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VIRT. Morgan Stanley lifted their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group boosted their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Piper Sandler boosted their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup boosted their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.50.

Insider Activity

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 46.70% of the company’s stock.

Virtu Financial Price Performance

Shares of NASDAQ:VIRT opened at $32.98 on Friday. The company has a 50-day simple moving average of $31.16 and a 200-day simple moving average of $26.09. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $33.55. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 0.54 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The business had revenue of $385.10 million during the quarter, compared to analysts’ expectations of $331.92 million. During the same period in the prior year, the company earned $0.29 earnings per share. The business’s revenue was up 38.2% compared to the same quarter last year. On average, analysts predict that Virtu Financial, Inc. will post 2.57 EPS for the current year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.91%. Virtu Financial’s payout ratio is 67.13%.

Virtu Financial 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.