Here is What Hedge Funds Think About Virtu Financial Inc (VIRT)

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Now, some big names have jumped into Virtu Financial Inc (NASDAQ:VIRT) headfirst. Kingdon Capital created the most valuable position in Virtu Financial Inc (NASDAQ:VIRT). Kingdon Capital had $4.3 million invested in the company at the end of the quarter. Gregg Moskowitz’s Interval Partners also made a $0.5 million investment in the stock during the quarter. The only other fund with a brand new VIRT position was Bart Baum’s Ionic Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Virtu Financial Inc (NASDAQ:VIRT). We will take a look at Louisiana-Pacific Corporation (NYSE:LPX), Virgin America Inc (NASDAQ:VA), Ligand Pharmaceuticals Inc. (NASDAQ:LGND), and Grifols SA, Barcelona (NASDAQ:GRFS). This group of stocks’ market caps resemble VIRT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LPX 32 460427 9
VA 25 881734 0
LGND 16 214075 0
GRFS 12 130512 1

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $422 million. That figure was $54 million in VIRT’s case. Louisiana-Pacific Corporation (NYSE:LPX) is the most popular stock in this table. On the other hand Grifols SA, Barcelona (NASDAQ:GRFS) is the least popular one with only 12 bullish hedge fund positions. Virtu Financial Inc (NASDAQ:VIRT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard LPX might be a better candidate to consider taking a long position in.

Disclosure: None

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