Aviance Capital Partners LLC Purchases Shares of 7,847 Virtu Financial, Inc. (NASDAQ:VIRT)

Aviance Capital Partners LLC acquired a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,847 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other hedge funds also recently modified their holdings of VIRT. USA Financial Formulas bought a new position in Virtu Financial during the third quarter worth $33,000. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial in the 2nd quarter valued at about $39,000. Abich Financial Wealth Management LLC increased its position in Virtu Financial by 55.3% in 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 in the last quarter. Innealta Capital LLC bought a new stake in Virtu Financial in the 2nd quarter valued at about $46,000. Finally, First Horizon Advisors Inc. raised its stake in Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after buying an additional 372 shares during the period. Institutional investors own 45.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Virtu Financial Stock Up 2.7 %

VIRT opened at $36.90 on Wednesday. Virtu Financial, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $37.20. 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’s 50-day moving average is $32.37 and its 200 day moving average is $28.01. The firm has a market capitalization of $5.71 billion, a P/E ratio of 18.54, a PEG ratio of 0.55 and a beta of 0.38.

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

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given 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 dividend payout ratio is currently 48.24%.

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.