Insider Trading : Thur 9/14/23

Notable purchases -- CEO & Co-President add to VIRT; notable sales -- Buffett active in HPQ

Buyers:

• JYNT 10% owner Bandera Partners bought 47,156 shares at $9.26 - $9.51 worth ~$442K.
• MEG Director bought 10,000 shares at $32.815 - $32.98 worth ~$329K.
• MODV 10% owner Coliseum Capital bought 213,248 shares at $28.84 - $31.00 worth ~$6.4 mln.
• NRDS Chief Executive Officer bought 30,588 shares at $8.36 - $8.42 worth ~$256K.
• PIII 10% owner bought 270,000 shares at $2.33 - $2.65 worth ~$685K.
• SMLR Director bought 77,771 shares at $26.98 - $28.11 worth ~$2.1 mln.
• UWMC Director bought 40,000 shares at $5.20 worth ~$208K.
• VIRT Chief Executive Officer and Co-President & Co-COO bought a total of 65,000 shares at $16.89 - $17.25 worth ~$1111K.

Sellers:

• HPQ 10% owner Warren E. Buffett sold 5,502,172 shares worth more than $158 mln.
• QCOM Chief Technology Officer sold 27,962 shares at $112.93 - $113.40 worth ~$3.2 mln.

=Virtu Financial (VIRT) reported earnings on Fri 27 July 2018 (b/o)

Virtu Financial misses by $0.07, beats on revs; Expands share repurchase by $50 mln to $100 mln 

• Reports Q2 (Jun) earnings of $0.31 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus of $0.38; revenues rose 126.4% year/year to $328.1 mln vs the $236.08 mln Capital IQ Consensus.

Earnings this week : July 23 - 27, 2018 (wk 30)

This week marks the first of three very heavy weeks of earnings reports -- roughly 1/3 of the S&P 500 will report quarterly results.

Monday (July 23)

• Morning: ITW HAL PHG HAS LII
• Afternoon: GOOG GOOGL AMTD CDNS STLD ZION WHR

Tuesday (July 24)

• Morning: VZ MMM UTX LLY LMT BIIB SHW KMB CNC PCAR IQV DGX WAT EDU TRU WAB
• Afternoon: T TXN SYK CB EQR AMP WCN TSS CSGP IEX WRB RHI TER CSL MKSI  USNA

Wednesday (July 25)

• Morning: UMC BA KO UPS TMO NEE ANTM GD NOC GM BSX NSC HCA WM AEP TEL SIRI SRE TROW APH FCAU HLT GLW FCX IR ROK DTE HES LH STM CHKP S GRUB USG SIX TRVG IMAX  OC  TUP

• Afternoon: FB V PYPL GILD QCOM MDLZ LVS VRTX F SU NOW ALGN ORLY XLNX MHK AMD EFX CTXS FTI RJF PKG UHS VAR AEM FFIV SNBR ECHO

  DRE TMK AGNC GGG SUI MEOH KRC EHC DLB KNX MPWR MAT CW TRN KEX CHE CLB AXS LSTR CLGX ASGN STAY FR CUZ MSA NGVT CVRR JBT CCMP ESV LM QEP ESRT PEB OII DDR ARI ALGT DRQ ROIC QTS FOE MTH FWRD BEAT FCPT CDE KRA WPG EIG TILE FARO ETH ANIK SFS SB AXTI BPI ABX GG CCJ

Thursday (July 26)

• Morning: RDS.A MA CMCSA MCD AUO MO BMY COP AZN CELG AGN RTN CME SPGI PX VLO MMC BAX KDP APD MPC SPOT LUV ALXN ROP MPLX MCK AAL CVE DHI LLL YNDX MLCO NLSN UAA PHM ALK ALKS RS HP XRX WWE DNKN B SAVE ALLY OAK CPG  AAN    NGD   

     XEL TAL IP PCG NEM HSY ABMD TECK AAL  EQT KKR CNHI MLM CMS YNDX LEA ODFL IVZ  LKQ LDOS TSCO BWA UAA PHM ALLE ICLR AXTA WST CFR  KIM EQM LAZ NOK NRZ ORI FAF BC UTHR CRI ENTG GRA EME VLY ADNT FCFS PAG SPB ARD BMS UBSI COR RDN VC PRLB PTEN SYNT NVCR  PENN COLB DLX TREE AB TPX VLP  FCN GWB NTCT AXE TSEM MNRO MINI CWT THRM PATK 

• Afternoon: LOGM  AUY  AMZN INTC AMGN SBUX EA AFL EW LRCX FTV DFS DLR WDC EIX EXPE HIG VRSN MXIM NOV TEAM CMG JNPR COLM PFPT FSLR BYD RARE FHB SAM NCR ISBC ELLI DECK SKYW BOFI EGHT IMPV ABAX MATW FIX MSTR 

Friday (July 27)

• Morning: GT  VIRT   XOM CVX MRK ABBV CL PSX AON MCO TWTR WY SYF ZBH

=Virtu Financial (VIRT) reported earnings on Thur 8 Feb 2018 (b/o)

Virtu Financial beats by $0.10

• Reports Q4 (Dec) earnings of $0.22 per share, $0.10 better than the Capital IQ Consensus of $0.12.
  • Total revenues increased 169.8% to $460.4 million for this quarter, compared to $170.6 million for the same period in 2016. Trading income, net, increased 83.7% to $286.4 million for this quarter, compared to $155.9 million for the same period in 2016. Net income increased 37.1% to $47.8 million for this quarter, compared to $34.9 million for the same period in 2016.
  • Adjusted Net Trading Income increased 129.5% to $237.3 million for this quarter, compared to $103.4 million for the same period in 2016. Adjusted EBITDA increased 66.4% to $107.8 million for this quarter, compared to $64.8 million for the same period in 2016. Normalized Adjusted Net Income increased 25.8% to $41.4 million for this quarter, compared to $32.9 million for the same period in 2016.

=Virtu Financial (VIRT) reported earnings on Thur 4 May 2017 (b/o)

Virtu Financial reports EPS in-line, misses on revs; sees acquisition by KCG (KCG) closing in Q3 :

• Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, in-line with the two analyst estimate of $0.16; revenues (Adj-net trading income) fell 32.3% year/year to $79.4 mln vs the $82.2 mln single analyst estimate.
• Since the April 20 announcement of our definitive agreement to acquire KCG Holdings (KCG), we have begun working on a transition plan with KCG management, initiated the formal change in control applications with regulators, as well as customary anti-trust processes, and continued to conduct due diligence required to close the transaction. At this time, we continue to anticipate closing the transaction in Q3 2017.

KCG Holdings (KCG) to be acquired by Virtu Financial (VIRT)

KCG Holdings (KCG) to be acquired by Virtu Financial (VIRT) for $20.00/share in cash or approx. $1.4 bln

 

KCG was born out of the merger of Knight Capital and Getco, two pioneers of using computer technology for rapid-fire trading who joined forces in 2012 after a trading glitch nearly put Knight out of business.

The move comes as persistently low levels of volatility in financial markets are squeezing industry players. High-speed groups thrive during times of heavy trading and high volatility, with the period around the financial crisis having been the boom time.

Virtu trades primarily for its own account, like Getco, whereas KCG also has big business trading for clients — part of the Knight arm thought to be attractive to Virtu. It is one of the largest players in wholesale trading where companies execute trades for retail houses such as Charles Schwab and TD Ameritrade.

** charts before **