Allspring Global Investments Holdings LLC Has $16.51 Million Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Posted by Defense World Staff on Oct 4th, 2023

Allspring Global Investments Holdings LLC lowered its position in Virtu Financial, Inc. (NASDAQ:VIRT – Free Report) by 58.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 965,748 shares of the financial services provider’s stock after selling 1,348,639 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.59% of Virtu Financial worth $16,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. increased its stake in shares of Virtu Financial by 12.6% in the first quarter. Ronald Blue Trust Inc. now owns 5,400 shares of the financial services provider’s stock valued at $110,000 after buying an additional 604 shares during the period. Price T Rowe Associates Inc. MD increased its position in Virtu Financial by 3.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 30,980 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 892 shares during the period. Credit Suisse AG increased its position in Virtu Financial by 1.1% during the 2nd quarter. Credit Suisse AG now owns 79,418 shares of the financial services provider’s stock valued at $1,859,000 after purchasing an additional 895 shares during the period. Steward Partners Investment Advisory LLC increased its position in Virtu Financial by 42.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,176 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 950 shares during the period. Finally, Greenwich Wealth Management LLC increased its position in Virtu Financial by 0.7% during the 1st quarter. Greenwich Wealth Management LLC now owns 146,824 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 46.02% of the company’s stock.

Virtu Financial Price Performance

Virtu Financial stock opened at $17.20 on Wednesday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 12.65 and a beta of 0.26. Virtu Financial, Inc. has a 52-week low of $16.26 and a 52-week high of $23.38. The stock’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $18.22. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 0.50.

Virtu Financial (NASDAQ:VIRT – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $278.69 million for the quarter, compared to the consensus estimate of $290.67 million. Virtu Financial had a return on equity of 18.21% and a net margin of 6.53%. On average, equities analysts predict that Virtu Financial, Inc. will post 1.89 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date was Thursday, August 31st. Virtu Financial’s dividend payout ratio is currently 70.59%.

Insider Buying and Selling

In other news, CEO Douglas A. Cifu bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average cost of $17.06 per share, for a total transaction of $853,000.00. Following the acquisition, the chief executive officer now directly owns 442,755 shares in the company, valued at $7,553,400.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Douglas A. Cifu bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average cost of $17.06 per share, for a total transaction of $853,000.00. Following the acquisition, the chief executive officer now directly owns 442,755 shares in the company, valued at $7,553,400.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph Molluso bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $17.17 per share, for a total transaction of $257,550.00. Following the completion of the acquisition, the chief operating officer now owns 358,160 shares in the company, valued at $6,149,607.20. The disclosure for this purchase can be found here. 44.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VIRT shares. JPMorgan Chase & Co. downgraded shares of Virtu Financial from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $19.00 in a research report on Thursday, July 27th. StockNews.com downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Citigroup raised shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.40.

Check Out Our Latest Report on VIRT

About Virtu Financial

(Free Report)

Virtu Financial, Inc, a financial services company in New York. The company operates through two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company's solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities.