OLD National Bancorp IN Sells 16,158 Shares of Virtu Financial, Inc. $VIRT

OLD National Bancorp IN decreased its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 293,069 shares of the financial services provider’s stock after selling 16,158 shares during the quarter. OLD National Bancorp IN owned 0.19% of Virtu Financial worth $13,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Voya Investment Management LLC grew its stake in shares of Virtu Financial by 2.8% during the first quarter. Voya Investment Management LLC now owns 10,002 shares of the financial services provider’s stock valued at $381,000 after buying an additional 270 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Virtu Financial by 1.5% during the first quarter. Foundry Partners LLC now owns 18,031 shares of the financial services provider’s stock valued at $687,000 after buying an additional 275 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Virtu Financial by 0.8% during the first quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 281 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Virtu Financial by 26.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider’s stock valued at $64,000 after buying an additional 345 shares during the last quarter. Finally, Optimist Retirement Group LLC grew its stake in shares of Virtu Financial by 4.6% during the first quarter. Optimist Retirement Group LLC now owns 8,146 shares of the financial services provider’s stock valued at $311,000 after buying an additional 355 shares during the last quarter. Institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 47.20% of the company’s stock.

Virtu Financial Stock Performance

Shares of VIRT opened at $33.65 on Friday. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77. The stock has a fifty day moving average price of $39.63 and a 200-day moving average price of $40.37. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.14 billion, a PE ratio of 9.73, a P/E/G ratio of 1.14 and a beta of 0.62.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 29th. Virtu Financial’s dividend payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of analyst reports. Morgan Stanley upped their target price on Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, July 15th. Piper Sandler increased their price objective on Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group reissued a “neutral” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.29.

About Virtu Financial

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.