Carnegie Investment Counsel Sells 451 Shares of Virtu Financial, Inc. $VIRT

Carnegie Investment Counsel decreased its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,089 shares of the financial services provider’s stock after selling 451 shares during the period. Carnegie Investment Counsel’s holdings in Virtu Financial were worth $318,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Virtu Financial by 243.0% in the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 554 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 942 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Virtu Financial by 410.6% during the second quarter. Farther Finance Advisors LLC now owns 1,297 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,043 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Virtu Financial by 89.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,368 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 647 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Virtu Financial during the 1st quarter valued at about $54,000. Institutional investors own 45.78% of the company’s stock.

Insider Buying and Selling

In other news, COO Brett Fairclough sold 90,701 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 47.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on VIRT. Morgan Stanley lifted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their price objective on shares of Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Piper Sandler increased their price target on shares of Virtu Financial from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group reissued a “neutral” rating and set a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.43.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $33.55 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.14 and a beta of 0.62. The stock has a fifty day moving average of $36.72 and a 200 day moving average of $39.98. Virtu Financial, Inc. has a 52 week low of $30.51 and a 52 week high of $45.77.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Tuesday, March 12th. The financial services provider reported $0.37 EPS for the quarter. The business had revenue of $274.00 million during the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. As a group, research analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Announces Dividend

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

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.