Shares of Virtu Financial (NASDAQ:VIRT) have been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $35.13.
VIRT has been the topic of several research analyst reports. Zacks Investment Research raised Virtu Financial from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 20th. JPMorgan Chase boosted their price target on Virtu Financial from $13.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, January 25th. BidaskClub raised Virtu Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Rosenblatt Securities boosted their price target on Virtu Financial from $18.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Sandler O’Neill boosted their price target on Virtu Financial from $19.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 8th.
Virtu Financial traded down $0.50, hitting $29.75, on Tuesday, MarketBeat.com reports. 1,171,552 shares of the company’s stock traded hands, compared to its average volume of 1,741,837. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.66 and a quick ratio of 0.66. Virtu Financial has a 1 year low of $13.10 and a 1 year high of $37.85. The stock has a market cap of $5.60 billion, a PE ratio of 52.19 and a beta of -0.59.
Virtu Financial (NASDAQ:VIRT) last released its earnings results on Friday, May 4th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.15. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. The company had revenue of $406.10 million for the quarter, compared to analysts’ expectations of $307.24 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 190.9% on a year-over-year basis. equities research analysts anticipate that Virtu Financial will post 2.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.23%. Virtu Financial’s payout ratio is 168.42%.
Virtu Financial announced that its Board of Directors has approved a stock buyback plan on Thursday, February 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Virtu Financial news, insider Tjmt Holdings Llc sold 3,281,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total transaction of $89,118,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total value of $93,702,000.00. The disclosure for this sale can be found here. Insiders own 73.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in VIRT. North Island ManageCo LLC bought a new stake in Virtu Financial during the fourth quarter worth approximately $733,173,000. Delek Group Ltd. bought a new stake in Virtu Financial during the fourth quarter worth approximately $10,993,000. Millennium Management LLC bought a new stake in Virtu Financial during the fourth quarter worth approximately $7,617,000. Dimensional Fund Advisors LP boosted its position in Virtu Financial by 66.5% during the third quarter. Dimensional Fund Advisors LP now owns 558,012 shares of the financial services provider’s stock worth $9,040,000 after purchasing an additional 222,843 shares during the period. Finally, Greenwich Wealth Management LLC bought a new stake in Virtu Financial during the first quarter worth approximately $5,848,000. 46.98% of the stock is owned by hedge funds and other institutional investors.
Virtu Financial Company Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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