Virtu Financial, Inc. (NASDAQ:VIRT) shares scoring 2.91% to $30.05 in active trade session, while looking at the shares volume, around 1.42 Million shares have changed hands in this session. A technology-enabled global market maker, Virtu Financial, Inc. (VIRT) released that pricing of the underwritten secondary offering of 15,000,000 shares of its Class A common stock at a public offering price of $28.00 per share.
The selling stockholders, Mr. Vincent Viola, our Founder and Chairman Emeritus, TJMT Holdings LLC, an affiliate of Mr. Vincent Viola, and Havelock Fund Investments Pte Ltd, an entity affiliated with Temasek, are collectively selling 6,281,250 shares of Class A common stock. The offering includes shares of Class A common stock held by the selling stockholders (including shares underlying options held by Mr. Viola) and 8,718,750 shares of Class A common stock sold by Virtu, the net proceeds of which will be used to purchase an equivalent number of common interest units in Virtu Financial LLC and corresponding shares of Class D common stock. The selling stockholders will receive all of the net proceeds from the sale of shares of Class A common stock sold by them in the offering. Virtu will retain no net proceeds from the offering.
In connection with the public offering, the underwriters have been granted an option to purchase up to 450,000 additional shares of Class A common stock from Havelock and up to 1,800,000 additional shares of Class A common stock from Virtu. The net proceeds received by Virtu for such shares sold by it will be used to purchase an equivalent number of common interest units in Virtu Financial LLC and corresponding shares of Class D common stock. The firm has institutional ownership of 47.20%, while insider ownership included 0.20%. VIRT attains analyst recommendation of 2.70 with week’s performance of -14.24%. Investors looking further ahead will note that the Price to next year’s EPS is 5.10%.
LendingClub Corporation (NYSE:LC) knocking active thrust in leading trading session, shares a loss of -0.90% to 3.29 with around 798724 shares have changed hands in this session. Kahn Swick&Foti, LLC and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 2, 2018 to file lead plaintiff applications in a securities class action lawsuit against LendingClub Corporation (LC), if they purchased the Company’s securities between February 28, 2015 and April 25, 2018, inclusive. This action is pending in the United States District Court for the Northern District of California.
LendingClub and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On April 25, 2018, the Federal Trade Commission filed a complaint against the Company based on multiple charges of wrongdoing including falsely promising loans to consumers with no hidden fees and subsequently applying “hundreds or even thousands of dollars in hidden up-front fees from the loans”; misleading consumers as to the approval status of their loan applications; and improperly withdrawing funds from consumer accounts. The stock is going forward its fifty-two week low with 28.02% and lagging behind from its 52-week high price with -49.85%.
Similar, the positive performance for the quarter recorded as -10.27% and for the year was -43.82%, while the YTD performance remained at -19.61%. LC has Average True Range for 14 days of 0.21.