Key Points
- Insider selling: Virtu EVP Stephen Cavoli sold 28,370 shares on Feb 17 at an average of $38.94 for $1,104,727.80, and also sold 30,000 shares on Feb 12 and 11,630 on Feb 11 — a total of 70,000 shares sold for about $2.68M, reducing his stake by 19.62% to 116,191 shares (≈$4.52M).
- Fundamentals and payout: Virtu beat quarterly estimates with EPS $1.85 vs. $1.12 expected and revenue $969.9M vs. $513.5M expected, and declared a $0.24 quarterly dividend (annualized $0.96, ~2.4% yield); analysts have an average "Hold" rating with a $43 target.
Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) EVP Stephen Cavoli sold 28,370 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $38.94, for a total transaction of $1,104,727.80. Following the sale, the executive vice president owned 116,191 shares in the company, valued at $4,524,477.54. This represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Stephen Cavoli also recently made the following trade(s):
- On Thursday, February 12th, Stephen Cavoli sold 30,000 shares of Virtu Financial stock. The stock was sold at an average price of $37.61, for a total transaction of $1,128,300.00.
- On Wednesday, February 11th, Stephen Cavoli sold 11,630 shares of Virtu Financial stock. The shares were sold at an average price of $38.66, for a total transaction of $449,615.80.
Virtu Financial Stock Performance
Shares of Virtu Financial stock opened at $39.37 on Thursday. Virtu Financial, Inc. has a 12 month low of $31.55 and a 12 month high of $45.77. 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 stock has a market cap of $6.02 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The business has a fifty day simple moving average of $35.90 and a 200-day simple moving average of $36.40.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.85 earnings per share 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 analyst estimates of $513.51 million. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.Virtu Financial's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, sell-side analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.
Virtu Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th. Virtu Financial's dividend payout ratio is 18.71%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on VIRT shares. Morgan Stanley increased their target price on shares of Virtu Financial from $35.00 to $36.00 and gave the stock an "underweight" rating in a research report on Thursday, January 22nd. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Bank of America raised Virtu Financial from a "neutral" rating to a "buy" rating and set a $45.00 price objective for the company in a research report on Tuesday, October 28th. Finally, Piper Sandler boosted their target price on Virtu Financial from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $43.00.
Get Our Latest Stock Report on VIRT
Institutional Investors Weigh In On Virtu Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in VIRT. Invesco Ltd. raised its position in shares of Virtu Financial by 64.2% in the third quarter. Invesco Ltd. now owns 2,370,400 shares of the financial services provider's stock valued at $84,149,000 after purchasing an additional 926,376 shares during the period. Millennium Management LLC grew its stake in Virtu Financial by 290.3% in the 4th quarter. Millennium Management LLC now owns 1,132,346 shares of the financial services provider's stock valued at $37,730,000 after buying an additional 842,247 shares during the last quarter. Wellington Management Group LLP raised its holdings in Virtu Financial by 565.4% in the 4th quarter. Wellington Management Group LLP now owns 815,143 shares of the financial services provider's stock worth $27,161,000 after acquiring an additional 692,643 shares during the period. Algebris UK Ltd. acquired a new position in Virtu Financial during the 4th quarter worth $22,377,000. Finally, Freestone Grove Partners LP bought a new stake in Virtu Financial during the third quarter valued at about $19,102,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.
About Virtu Financial
(
Get Free Report)
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.
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