Robertson Stephens Wealth Management LLC Purchases Shares of 74,707 Virtu Financial, Inc. $VIRT

Robertson Stephens Wealth Management LLC purchased a new stake in Virtu Financial, Inc. (NYSE:VIRT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 74,707 shares of the company’s stock, valued at approximately $2,489,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC grew its stake in Virtu Financial by 9.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,263 shares of the company’s stock valued at $209,000 after purchasing an additional 544 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Virtu Financial by 12.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,307 shares of the company’s stock valued at $443,000 after purchasing an additional 1,472 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Virtu Financial by 118.2% in the 4th quarter. Sanctuary Advisors LLC now owns 17,291 shares of the company’s stock valued at $576,000 after purchasing an additional 9,368 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Virtu Financial by 131.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 24,998 shares of the company’s stock valued at $833,000 after purchasing an additional 14,209 shares during the period. Finally, Legacy Capital Group California Inc. raised its holdings in shares of Virtu Financial by 5.4% in the 4th quarter. Legacy Capital Group California Inc. now owns 11,553 shares of the company’s stock valued at $385,000 after purchasing an additional 590 shares during the period. 45.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VIRT has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Virtu Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday. Wall Street Zen raised shares of Virtu Financial from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Piper Sandler upped their target price on shares of Virtu Financial from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, March 20th. JPMorgan Chase & Co. upped their target price on shares of Virtu Financial from $44.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Morgan Stanley upped their target price on shares of Virtu Financial from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.67.

Virtu Financial Stock Down 3.0%

Virtu Financial stock opened at $48.17 on Friday. The stock has a market cap of $7.45 billion, a P/E ratio of 7.97, a P/E/G ratio of 3.82 and a beta of 0.62. The company has a quick ratio of 0.47, a current ratio of 1.12 and a debt-to-equity ratio of 0.92. Virtu Financial, Inc. has a twelve month low of $31.55 and a twelve month high of $52.21. The company’s 50-day moving average price is $44.59 and its two-hundred day moving average price is $38.58.

Virtu Financial (NYSE:VIRT) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.58. The firm had revenue of $786.53 million for the quarter, compared to analysts’ expectations of $613.12 million. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The business’s revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. As a group, analysts expect that Virtu Financial, Inc. will post 4.83 EPS for the current year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Virtu Financial’s dividend payout ratio is currently 15.89%.

Insider Activity

In other Virtu Financial news, EVP Stephen Cavoli sold 30,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $37.61, for a total value of $1,128,300.00. Following the transaction, the executive vice president directly owned 174,561 shares of the company’s stock, valued at $6,565,239.21. This represents a 14.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph Molluso sold 200,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $38.88, for a total transaction of $7,776,000.00. Following the completion of the transaction, the chief operating officer directly owned 326,585 shares in the company, valued at approximately $12,697,624.80. This represents a 37.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 270,000 shares of company stock worth $10,458,644. Insiders own 47.20% of the company’s stock.

Virtu Financial Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.