Aviance Capital Partners LLC Makes New $239,000 Investment in Virtu Financial, Inc. (NASDAQ:VIRT)

Aviance Capital Partners LLC bought a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,847 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other large investors also recently modified their holdings of the stock. USA Financial Formulas purchased a new position in Virtu Financial in the third quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new stake in shares of Virtu Financial in the second quarter valued at $39,000. Abich Financial Wealth Management LLC lifted its position in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after buying an additional 781 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Virtu Financial during the 2nd quarter worth $46,000. Finally, First Horizon Advisors Inc. increased its holdings in Virtu Financial by 21.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 372 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Analyst Ratings Changes

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

Virtu Financial Stock Up 2.7 %

VIRT opened at $36.90 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day moving average price of $32.37 and a 200-day moving average price of $28.01. The firm has a market capitalization of $5.71 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 0.55 and a beta of 0.38. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $37.20.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts expect that Virtu Financial, Inc. will post 2.7 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.60%. Virtu Financial’s payout ratio is 48.24%.

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.