Virtu Financial, Inc. $VIRT Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC cut its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,605 shares of the financial services provider’s stock after selling 592 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Virtu Financial were worth $923,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Virtu Financial by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,657 shares of the financial services provider’s stock worth $594,000 after acquiring an additional 3,468 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Virtu Financial during the 1st quarter worth $218,000. Wedge Capital Management L L P NC increased its position in shares of Virtu Financial by 0.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 281 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Virtu Financial by 7.3% in the 1st quarter. Pallas Capital Advisors LLC now owns 10,311 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 701 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Virtu Financial by 20.0% in the first quarter. GAMMA Investing LLC now owns 6,824 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 1,138 shares in the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $42.40, for a total value of $3,845,722.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 47.20% of the company’s stock.

Virtu Financial Price Performance

Shares of NASDAQ VIRT opened at $32.43 on Tuesday. The stock has a market cap of $4.96 billion, a P/E ratio of 9.37, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $39.41 and its 200 day simple moving average is $40.35. Virtu Financial, Inc. has a fifty-two week low of $29.82 and a fifty-two week high of $45.77.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial’s payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VIRT shares. The Goldman Sachs Group reduced their target price on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group restated a “neutral” rating and issued a $45.00 price target (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Piper Sandler increased their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley raised their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Virtu Financial has a consensus rating of “Hold” and an average target price of $40.88.

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.