Eagle Ridge Investment Management Buys Shares of 7,540 Virtu Financial, Inc. (NASDAQ:VIRT)

Eagle Ridge Investment Management bought a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,540 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Virtu Financial by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after purchasing an additional 124,563 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Virtu Financial by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock worth $27,295,000 after acquiring an additional 342,327 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Virtu Financial by 1.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock worth $16,408,000 after acquiring an additional 7,721 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Virtu Financial by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock worth $15,296,000 after acquiring an additional 9,826 shares during the last quarter. Finally, Old West Investment Management LLC increased its stake in shares of Virtu Financial by 4.3% in the second quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock worth $15,298,000 after acquiring an additional 28,199 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Virtu Financial Trading Down 4.6 %

Virtu Financial stock opened at $30.86 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 0.49 and a beta of 0.38. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $33.55. The company’s fifty day moving average price is $31.38 and its two-hundred day moving average price is $26.41.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.

Insider Buying and Selling at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the sale, the director now directly owns 24,122 shares in the company, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 46.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VIRT. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Morgan Stanley upped their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.50.

About Virtu Financial

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.