Cornerstone Planning Group LLC Has $939,000 Stock Holdings in Virtu Financial, Inc. $VIRT

Cornerstone Planning Group LLC boosted its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 114,887.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,447 shares of the financial services provider’s stock after acquiring an additional 26,424 shares during the period. Cornerstone Planning Group LLC’s holdings in Virtu Financial were worth $939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VIRT. Summit Global Investments acquired a new position in Virtu Financial during the third quarter valued at approximately $1,109,000. Pullen Investment Management LLC boosted its holdings in shares of Virtu Financial by 842.9% in the third quarter. Pullen Investment Management LLC now owns 61,154 shares of the financial services provider’s stock valued at $2,171,000 after buying an additional 54,668 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Virtu Financial by 66.7% during the second quarter. Janney Montgomery Scott LLC now owns 66,893 shares of the financial services provider’s stock worth $2,996,000 after acquiring an additional 26,756 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Virtu Financial by 23.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,183,268 shares of the financial services provider’s stock worth $40,373,000 after acquiring an additional 222,862 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of Virtu Financial by 59.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 90,206 shares of the financial services provider’s stock worth $3,202,000 after acquiring an additional 33,762 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of research reports. Bank of America upgraded Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, October 28th. Piper Sandler lifted their price objective on shares of Virtu Financial from $51.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. The Goldman Sachs Group raised their price target on Virtu Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley increased their price objective on Virtu Financial from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Virtu Financial presently has a consensus rating of “Hold” and an average target price of $43.00.

Virtu Financial Trading Down 4.8%

Shares of Virtu Financial stock opened at $39.51 on Tuesday. The business has a fifty day simple moving average of $35.11 and a two-hundred day simple moving average of $36.80. Virtu Financial, Inc. has a 1 year low of $31.55 and a 1 year high of $45.77. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.14 and a beta of 0.58. 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 (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.12 by $0.73. The firm had revenue of $969.89 million for the quarter, compared to the consensus estimate of $513.51 million. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Research analysts forecast that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th. Virtu Financial’s dividend payout ratio is currently 18.71%.

Virtu Financial Profile

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.