Jefferies Group Begins Coverage on Virtu Financial (VIRT)

Analysts at Jefferies Group assumed coverage on shares of Virtu Financial (NASDAQ:VIRT) in a report released on Wednesday, The Fly reports. The brokerage set a “buy” rating on the financial services provider’s stock.

Several other equities analysts also recently commented on VIRT. JPMorgan Chase upped their price objective on Virtu Financial from $13.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, January 25th. Zacks Investment Research raised Virtu Financial from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research report on Friday, February 2nd. BidaskClub raised Virtu Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Rosenblatt Securities increased their price target on Virtu Financial from $18.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Sandler O’Neill increased their price target on Virtu Financial from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.13.

Shares of Virtu Financial stock opened at $29.10 on Wednesday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 51.05 and a beta of -0.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 0.66. Virtu Financial has a 52 week low of $13.10 and a 52 week high of $37.85.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Friday, May 4th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.15. The company had revenue of $406.10 million for the quarter, compared to the consensus estimate of $307.24 million. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. Virtu Financial’s quarterly revenue was up 190.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. equities analysts expect that Virtu Financial will post 2.06 EPS for the current fiscal year.

Virtu Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, February 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total value of $93,702,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tjmt Holdings Llc sold 3,281,250 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $27.16, for a total value of $89,118,750.00. The disclosure for this sale can be found here. Corporate insiders own 73.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. North Island ManageCo LLC purchased a new stake in Virtu Financial in the fourth quarter valued at about $733,173,000. William Blair Investment Management LLC raised its stake in Virtu Financial by 0.4% in the fourth quarter. William Blair Investment Management LLC now owns 3,705,653 shares of the financial services provider’s stock valued at $67,813,000 after buying an additional 14,408 shares during the last quarter. BlackRock Inc. raised its stake in Virtu Financial by 2.0% in the first quarter. BlackRock Inc. now owns 2,100,566 shares of the financial services provider’s stock valued at $69,319,000 after buying an additional 40,362 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Virtu Financial by 10.7% in the fourth quarter. Peregrine Capital Management LLC now owns 1,368,367 shares of the financial services provider’s stock valued at $25,041,000 after buying an additional 131,925 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Virtu Financial by 16.6% in the fourth quarter. Royce & Associates LP now owns 779,392 shares of the financial services provider’s stock valued at $14,263,000 after buying an additional 111,092 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

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.

The Fly

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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