Envestnet Asset Management Inc. Has $15.16 Million Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Envestnet Asset Management Inc. reduced its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 9.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 397,573 shares of the financial services provider’s stock after selling 40,855 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Virtu Financial were worth $15,155,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in Virtu Financial in the 1st quarter valued at $32,000. Penserra Capital Management LLC bought a new stake in shares of Virtu Financial during the 1st quarter worth approximately $54,000. Huntington National Bank lifted its stake in Virtu Financial by 528.9% in the 4th quarter. Huntington National Bank now owns 3,182 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,676 shares during the last quarter. Wexford Capital LP acquired a new stake in Virtu Financial in the fourth quarter valued at $203,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Virtu Financial during the fourth quarter worth $210,000. 45.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VIRT shares. Wall Street Zen cut shares of Virtu Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. upped their target price on shares of Virtu Financial from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Evercore ISI increased their price target on shares of Virtu Financial from $41.00 to $42.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. Piper Sandler reissued an “overweight” rating and set a $48.00 price target (up previously from $44.00) on shares of Virtu Financial in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.13.

Virtu Financial Price Performance

Shares of NASDAQ:VIRT opened at $44.40 on Friday. The company has a market capitalization of $6.85 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.14 and a beta of 0.70. 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, Inc. has a 1-year low of $26.50 and a 1-year high of $45.77. The firm’s 50 day simple moving average is $42.42 and its two-hundred day simple moving average is $39.22.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.31. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The firm had revenue of $497.14 million during the quarter, compared to analyst estimates of $444.23 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 30.3% 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 declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.24 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.16%. Virtu Financial’s dividend payout ratio (DPR) is presently 27.75%.

Insider Buying and Selling

In other news, CEO Douglas A. Cifu sold 177,561 shares of Virtu Financial stock in a transaction on Monday, April 28th. The stock was sold at an average price of $38.88, for a total transaction of $6,903,571.68. Following the transaction, the chief executive officer owned 231,306 shares in the company, valued at $8,993,177.28. The trade was a 43.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Nixon sold 6,965 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total value of $298,241.30. Following the sale, the director directly owned 33,923 shares of the company’s stock, valued at $1,452,582.86. The trade was a 17.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,846 shares of company stock worth $14,079,615 in the last ninety days. Corporate insiders own 47.20% of the company’s stock.

Virtu Financial Company 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.