Two Sigma Advisers LP Cuts Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Two Sigma Advisers LP lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 477,000 shares of the financial services provider’s stock after selling 98,900 shares during the period. Two Sigma Advisers LP owned about 0.31% of Virtu Financial worth $14,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VIRT. FMR LLC lifted its position in shares of Virtu Financial by 38.0% during the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock valued at $151,511,000 after acquiring an additional 1,368,419 shares during the period. Los Angeles Capital Management LLC purchased a new position in Virtu Financial in the 3rd quarter valued at approximately $29,815,000. Principal Financial Group Inc. acquired a new position in Virtu Financial during the second quarter worth $9,751,000. Portolan Capital Management LLC purchased a new stake in Virtu Financial during the third quarter worth $11,918,000. Finally, Bank of New York Mellon Corp grew its holdings in Virtu Financial by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after purchasing an additional 342,327 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $36.30 on Monday. The business has a 50-day moving average of $33.86 and a two-hundred day moving average of $29.31. The firm has a market capitalization of $5.61 billion, a PE ratio of 18.24, a P/E/G ratio of 0.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $38.45.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. During the same quarter in the prior year, the company earned $0.40 EPS. The company’s revenue was up 30.2% on a year-over-year basis. As a group, research analysts forecast that Virtu Financial, Inc. will post 2.71 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VIRT. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research note on Thursday, October 24th. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America dropped their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.50.

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.