Virtu Financial, Inc. (NASDAQ:VIRT) Position Boosted by Pullen Investment Management LLC

27 Oct 2024, 09:08 by Scott Moore · The Cerbat Gem

Pullen Investment Management LLC boosted its position in Virtu Financial, Inc. (NASDAQ:VIRT – Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,628 shares of the financial services provider’s stock after buying an additional 5,936 shares during the quarter. Virtu Financial makes up about 1.6% of Pullen Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. Pullen Investment Management LLC’s holdings in Virtu Financial were worth $2,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas bought a new stake in shares of Virtu Financial in the 3rd quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial during the second quarter worth $39,000. Abich Financial Wealth Management LLC raised its holdings in shares of Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the period. Innealta Capital LLC bought a new position in shares of Virtu Financial in the 2nd quarter worth about $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of 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 valued at $48,000 after buying an additional 372 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Trading Up 0.4 %

NASDAQ:VIRT opened at $30.97 on Friday. Virtu Financial, Inc. has a 1 year low of $16.02 and a 1 year high of $33.55. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.49 and a beta of 0.38. The business has a fifty day moving average of $31.41 and a 200-day moving average of $26.52. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Sunday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insider Activity

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value 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 document filed with the SEC, which is available at this hyperlink. Insiders own 46.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VIRT. UBS Group raised their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Piper Sandler reiterated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Bank of America dropped their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Virtu Financial has an average rating of “Hold” and a consensus target price of $29.50.

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