Virtu following the VIX lower this week. Stock is -12% since reporting earnings on 8/7:pic.twitter.com/3nDXV7lz17
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Any chance these guys get acquired? If I am a B tier broker-dealer these guys would be my prime target
Unlikely imo - Vinnie Viola (founder of Virtu) has ~80% of company voting power- they get acquired only if he says yes
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A problem I have with Virtu (if I was a shareholder) is that employees are likely due bigger bonuses in good years. This would likely also be a problem if they sold the company to a large broker dealer.
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I think the bigger problem is that they are obsessed with paying off that fuckin term loan, 300mm so far. if they increase their dividend by 10 cents, 100mm lasts >5 quarters and at today’s price stock would yield 6% or do a small buyback...
End of conversation
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