24,405 Shares in Virtu Financial, Inc. (NASDAQ:VIRT) Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd acquired a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,405 shares of the financial services provider’s stock, valued at approximately $743,000.

Several other institutional investors have also modified their holdings of the stock. Portolan Capital Management LLC bought a new position in shares of Virtu Financial during the 3rd quarter valued at approximately $11,918,000. HighTower Advisors LLC increased its position in Virtu Financial by 15.0% during the third quarter. HighTower Advisors LLC now owns 102,620 shares of the financial services provider’s stock valued at $3,133,000 after acquiring an additional 13,411 shares during the last quarter. Paloma Partners Management Co bought a new position in Virtu Financial during the third quarter valued at $640,000. Point72 Hong Kong Ltd purchased a new stake in shares of Virtu Financial in the third quarter valued at $332,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Virtu Financial by 470.3% in the 3rd quarter. Verition Fund Management LLC now owns 72,387 shares of the financial services provider’s stock worth $2,205,000 after acquiring an additional 59,695 shares during the last quarter. 45.78% of the stock is owned by institutional investors.

Virtu Financial Price Performance

VIRT opened at $37.03 on Friday. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.59 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $38.45. The business’s fifty day simple moving average is $33.76 and its 200-day simple moving average is $29.13.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Virtu Financial, Inc. will post 2.71 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s payout ratio is 48.24%.

Analyst Ratings Changes

A number of analysts recently weighed in on VIRT shares. Piper Sandler reissued an “overweight” rating and issued a $35.00 price objective on shares of Virtu Financial in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America reduced their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Citigroup boosted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.50.

Virtu Financial Company 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.