Virtu Financial, Inc.
In the published model solve dated 2026-Q2, anchored at $58.56, Virtu Financial, Inc. (VIRT) is priced for 16.4% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• Virtu is an electronic market maker that earns the bid-ask spread on millions of trades, income its filing says "is typically proportional" to trading volumes, so the business thrives when markets are volatile and active. • The defining feature is that volatility is a fickle fuel: the first quarter of 2026 was Virtu's best ever, with record adjusted net trading income of about $787 million, but a record quarter built on market turbulence is not a run-rate, and calm markets compress the spreads
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412 institutional managers reported holding VIRT in 13F filings for the quarter ended 2026-03-31. Together they hold about 89% of the company; the top 10 hold 47%. 79 opened new positions that quarter. Held by BlackRock, Vanguard Group, FMR (Fidelity), among others. On the short side, 4.9M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (3.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
VIRT has cut its share count 28.1% over the past five years, spending $1.57B on repurchases. It pays no dividend. Cash returned over the past three years: $666.49M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at VIRT over the trailing three years: 2023: 2 buys totaling $1.11M; 2024: 1 buy totaling $811k. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
VIRT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-29 | +0.7% | -8.6% |
| 2023-11-03 | -1.4% | +14.9% |
| 2024-02-17 | -10.2% | +25.5% |
| 2024-04-27 | +5.6% | +1.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
VIRT's latest 8-K filings: 2026-07-30 (items 2.02); 2026-07-23 (items 1.01, 2.03, 9.01); 2026-07-14 (items 2.02, 7.01); 2026-06-10 (items 5.07); 2026-06-09 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.