Oak Thistle LLC Invests $450,000 in Virtu Financial, Inc. (NASDAQ:VIRT)

Oak Thistle LLC purchased a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,032 shares of the financial services provider’s stock, valued at approximately $450,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VIRT. Riverview Trust Co purchased a new stake in shares of Virtu Financial during the first quarter worth about $26,000. Quarry LP grew its holdings in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after buying an additional 746 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial during the second quarter worth about $39,000. Abich Financial Wealth Management LLC grew its holdings in Virtu Financial by 55.3% in the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 781 shares during the period. Finally, Innealta Capital LLC purchased a new stake in Virtu Financial in the second quarter valued at approximately $46,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Virtu Financial

In other news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 46.70% of the company’s stock.

Virtu Financial Price Performance

VIRT opened at $31.50 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $31.85. The company has a 50 day moving average of $27.68 and a two-hundred day moving average of $23.62. The company has a market cap of $4.91 billion, a P/E ratio of 22.03, a P/E/G ratio of 0.50 and a beta of 0.37.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The company had revenue of $385.10 million during the quarter, compared to the consensus estimate of $331.92 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Virtu Financial’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, analysts expect that Virtu Financial, Inc. will post 2.42 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. Virtu Financial’s payout ratio is currently 67.13%.

Wall Street Analysts Forecast Growth

VIRT has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Virtu Financial from $25.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. UBS Group boosted their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Piper Sandler boosted their target price on shares of Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Citigroup boosted their target price on shares of Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.36.

Virtu Financial Profile

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.