Virtue Capital Management LLC has reduced its stake in Virtu Financial, Inc. (NASDAQ: VIRT) by 14.4% during the second quarter of 2024, according to data from HoldingsChannel. The investment firm now holds 31,571 shares of the financial services provider after selling 5,304 shares in the period. As of its latest filing with the Securities and Exchange Commission, these holdings are valued at approximately $1.414 million.
Several other institutional investors have also adjusted their positions in Virtu Financial. Notably, Janney Montgomery Scott LLC increased its investment in the company by 66.7%, acquiring an additional 26,756 shares, bringing its total to 66,893 shares, worth about $2.996 million. Similarly, Counterpoint Mutual Funds LLC established a new position valued at approximately $417,000 during the same quarter.
In the first quarter of 2024, Amundi raised its stake in Virtu Financial by 117.6%, now owning 191,879 shares with a value of $7.176 million. Also, QRG Capital Management Inc. increased its holdings by 123.6% during the second quarter, now owning 51,959 shares worth about $2.327 million. Acadian Asset Management LLC similarly boosted its holdings by 132.8% earlier this year, owning 51,612 shares valued at $1.966 million. Currently, institutional investors and hedge funds control approximately 45.78% of Virtu Financial’s stock.
Recent Financial Performance and Dividend Declaration
Shares of Virtu Financial opened at $35.39 on Friday. The company has experienced a 52-week low of $31.89 and a high of $45.77. Its market capitalization stands at $5.41 billion, with a price-to-earnings (P/E) ratio of 10.23 and a beta of 0.60. The financial metrics also indicate a debt-to-equity ratio of 1.11, alongside quick and current ratios of 0.49 each. The stock’s 50-day simple moving average is $34.32, while the 200-day average is $39.25.
In addition to these developments, Virtu Financial has announced a quarterly dividend of $0.24 per share, slated for payment on December 15, 2024. Shareholders on record as of December 1, 2024 will receive this dividend, which equates to an annualized dividend of $0.96 and a yield of 2.7%. The company’s dividend payout ratio is noted at 20.78%.
Analyst Ratings and Market Outlook
Research firms have recently updated their ratings on Virtu Financial. UBS Group reaffirmed a “neutral” rating with a revised price target of $45.00, up from a previous target of $40.00. In contrast, Bank of America upgraded the stock from “neutral” to “buy,” setting a target price of $45.00 as well. The Goldman Sachs Group revised its price target downward from $48.00 to $38.00, maintaining a “neutral” rating.
As of now, two analysts have rated Virtu Financial as a “buy,” four have given it a “hold,” and one has issued a “sell” rating. According to data from MarketBeat, the consensus rating for the stock is “hold,” with an average target price of $41.71.
As Virtu Financial continues to navigate the financial landscape, these adjustments and performance metrics highlight the evolving dynamics within its investor base.
