Fmr LLC Sells 291,366 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)
FMR LLC lowered its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 15.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,583,669 shares of the financial services provider’s stock after selling 291,366 shares during the period. FMR LLC owned approximately 3.89% of Virtu Financial worth $26,922,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of VIRT. Neuberger Berman Group LLC purchased a new stake in Virtu Financial during the first quarter worth $17,548,000. Hodges Capital Management Inc. bought a new stake in Virtu Financial during the first quarter worth approximately $12,688,000. Capital Advisors Inc. OK bought a new stake in Virtu Financial during the first quarter worth approximately $11,476,000. Spark Investment Management LLC boosted its stake in Virtu Financial by 187.8% in the first quarter. Spark Investment Management LLC now owns 802,000 shares of the financial services provider’s stock worth $13,634,000 after buying an additional 523,300 shares during the period. Finally, Boston Partners bought a new stake in Virtu Financial during the first quarter worth approximately $3,284,000. Institutional investors own 43.88% of the company’s stock.
Shares of Virtu Financial, Inc. (NASDAQ VIRT) traded down 3.73% during midday trading on Tuesday, reaching $15.50. 1,968,841 shares of the company’s stock traded hands. The stock’s 50 day moving average is $16.98 and its 200-day moving average is $16.80. The company has a market capitalization of $630.34 million, a PE ratio of 23.13 and a beta of 0.39. Virtu Financial, Inc. has a 52 week low of $12.35 and a 52 week high of $19.07.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.07. The company had revenue of $77.10 million for the quarter, compared to the consensus estimate of $82.23 million. Virtu Financial had a return on equity of 20.72% and a net margin of 4.41%. The business’s revenue was down 24.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. On average, analysts forecast that Virtu Financial, Inc. will post $0.72 earnings per share for the current fiscal year.
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A number of analysts recently commented on the stock. UBS AG reiterated a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of Virtu Financial in a research note on Monday, April 24th. Zacks Investment Research lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. BidaskClub lowered shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday. Citigroup Inc. lowered shares of Virtu Financial from a “neutral” rating to a “sell” rating and cut their target price for the company from $17.00 to $16.00 in a report on Wednesday, July 12th. Finally, TheStreet raised shares of Virtu Financial from a “d-” rating to a “c-” rating in a report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.
In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek bought 6,346,155 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 69.90% of the stock is owned by corporate insiders.
Virtu Financial Company Profile
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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