Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Virtu Financial Inc. shares valued at $90,512 were purchased by Minieri Joanne on Nov 07. At $22.63 per share, Minieri Joanne acquired 4,000 shares. The insider’s holdings grew to 16,187 shares worth approximately $0.3 million following the completion of this transaction.
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Also, Minieri Joanne purchased 4,000 shares, netting a total of over 93,800 in proceeds. Following the buying of shares at $23.45 each, the insider now holds 12,187 shares.
Before that, Cavoli Stephen had sold 30,000 shares from its account. In a trade valued at $866,940, the EVP traded Virtu Financial Inc. shares for $28.90 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $1.35 million.
As published in a research note from Citigroup on January 12, 2023, Virtu Financial Inc. [VIRT] has been rated down from a Buy to a Neutral and the price target has been revised to $22.50. This represents a 17.82% premium over Wednesday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of January 11, 2021, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for VIRT. Earlier on November 09, 2020, Rosenblatt upgraded its rating. Their new recommendation was “a Buy” for VIRT stock which previously was a “a Neutral”.
Analyzing VIRT Stock Performance
On Wednesday, Virtu Financial Inc. [NASDAQ: VIRT] rose 0.60% to $18.49. The stock’s lowest price that day was $18.16, but it reached a high of $18.58 in the same session. During the last five days, there has been a drop of approximately -3.90%. Over the course of the year, Virtu Financial Inc. shares have dropped approximately -9.41%. Shares of the company reached a 52-week high of $21.66 on 01/10/23 and a 52-week low of $18.16 on 03/01/23. A 50-day SMA is recorded $20.05, while a 200-day SMA reached $22.25. Nevertheless, trading volume fell to 1.6 million shares from 1.29 million shares the previous day.
Support And Resistance Levels for Virtu Financial Inc. (VIRT)
According to the 24-hour chart, there is a support level at 18.24, which, if violated, would cause prices to drop to 17.99. In the upper region, resistance lies at 18.66. The next price resistance is at 18.83. RSI (Relative Strength Index) is 35.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.98, which suggests the price will decrease in the coming days. Percent R is at 87.45%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Virtu Financial Inc. subject to short interest?
Stocks of Virtu Financial Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.23 million shares to 3.81 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.04 million shares. A decline of -6.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.69 of the overall float, the days-to-cover ratio (short ratio) decline to 2.69.
Which companies own the most shares of Virtu Financial Inc. (VIRT)?
According to The Vanguard Group, Inc. filings, the company currently owns 9,342,068 shares, which is about 9.36% of the total VIRT shares outstanding. The investor’s shares have plunged by -457,025 from its previous 13-F filing of 9799093.0 shares. With the completion of the sale transaction, William Blair Investment Manageme’s stake is now worth $158,954,957. GIC Pte Ltd. reduced a -49.73% interest valued at $84.76 million while Renaissance Technologies LLC sold a -352,084 stake. A total of 396,592 shares of Virtu Financial Inc. were sold by BlackRock Fund Advisors during the quarter, and -7,304 were sold by Fuller & Thaler Asset Management,. In its current portfolio, Temasek Holdings Pte Ltd. holds 3,580,659 shares valued at $69.14 million.
In terms of Virtu Financial Inc. share price expectations, FactSet research, analysts set an average price target of $21.38 in the next 12 months, up nearly 16.97% from the previous closing price of $18.38. Analysts anticipate Virtu Financial Inc. stock to reach $26.00 by 2023, with the lowest price target being $18.00. In spite of this, 8 analysts ranked Virtu Financial Inc. stock as a Hold at the end of 2023. On September 11, 2020, Loop Capital assigned a price target of “a Hold” to the stock and initiated coverage with a $28.