Virtu Financial, Inc. (NASDAQ:VIRT) Sees Significant Increase in Short Interest

Virtu Financial, Inc. (NASDAQ:VIRTGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 2,590,000 shares, a growth of 123.3% from the April 30th total of 1,160,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.6% of the shares of the company are short sold.

In related news, EVP Stephen Cavoli sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $28.90, for a total value of $867,000.00. Following the transaction, the executive vice president now owns 73,277 shares of the company’s stock, valued at $2,117,705.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brett Fairclough sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $29.25, for a total transaction of $1,462,500.00. Following the sale, the chief operating officer now owns 27,488 shares of the company’s stock, valued at $804,024. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $2,905,500 over the last three months. Insiders own 63.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of Virtu Financial in the fourth quarter worth about $27,000. Signaturefd LLC raised its holdings in shares of Virtu Financial by 93.4% during the 4th quarter. Signaturefd LLC now owns 1,027 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 496 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Virtu Financial during the 1st quarter worth approximately $49,000. Metropolitan Life Insurance Co NY bought a new position in shares of Virtu Financial during the 4th quarter valued at approximately $50,000. Finally, Retirement Planning Co of New England Inc. purchased a new position in shares of Virtu Financial in the fourth quarter valued at $62,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VIRT opened at $26.16 on Friday. The firm has a market cap of $4.56 billion, a P/E ratio of 8.84 and a beta of -0.21. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.51 and a quick ratio of 0.51. Virtu Financial has a 1 year low of $23.19 and a 1 year high of $38.63. The company has a 50 day simple moving average of $32.43 and a two-hundred day simple moving average of $31.28.

Virtu Financial (NASDAQ:VIRTGet Rating) last issued its earnings results on Thursday, April 28th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. The firm had revenue of $522.31 million during the quarter, compared to analyst estimates of $483.93 million. Virtu Financial had a net margin of 13.99% and a return on equity of 39.13%. Virtu Financial’s revenue for the quarter was down 28.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 earnings per share. On average, sell-side analysts anticipate that Virtu Financial will post 3.39 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.67%. Virtu Financial’s payout ratio is 32.43%.

Several analysts have issued reports on VIRT shares. Citigroup boosted their price target on Virtu Financial from $36.00 to $37.50 in a report on Wednesday, April 13th. JPMorgan Chase & Co. cut their price objective on Virtu Financial from $40.00 to $37.50 in a research note on Friday, April 29th. StockNews.com assumed coverage on shares of Virtu Financial in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Rosenblatt Securities upped their price target on shares of Virtu Financial from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Finally, Piper Sandler raised their price objective on shares of Virtu Financial from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $38.17.

About Virtu Financial (Get Rating)

Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in 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.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Virtu Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial and related companies with MarketBeat.com's FREE daily email newsletter.