Virtu Financial (NASDAQ:VIRT) fell 5.6% on Wednesday . The stock traded as low as $26.90 and last traded at $27.10. 2,041,945 shares traded hands during mid-day trading, an increase of 97% from the average session volume of 1,037,327 shares. The stock had previously closed at $28.70.
Several brokerages have recently weighed in on VIRT. JPMorgan Chase & Co. raised shares of Virtu Financial from a “hold” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $28.00 in a research report on Friday, May 11th. Citigroup upped their price target on shares of Virtu Financial from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, May 8th. Goldman Sachs Group upped their price target on shares of Virtu Financial from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, May 7th. Rosenblatt Securities upped their price target on shares of Virtu Financial from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 7th. Finally, Evercore ISI upped their price target on shares of Virtu Financial from $27.00 to $38.00 and gave the company an “in-line” rating in a research note on Friday, May 4th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.33.
The firm has a market capitalization of $5.10 billion, a PE ratio of 46.58, a price-to-earnings-growth ratio of 2.49 and a beta of -0.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Friday, May 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.15. Virtu Financial had a net margin of 11.08% and a return on equity of 20.32%. The firm had revenue of $406.10 million for the quarter, compared to the consensus estimate of $307.24 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 190.9% compared to the same quarter last year. analysts anticipate that Virtu Financial will post 2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, May 31st. Virtu Financial’s dividend payout ratio (DPR) is presently 168.42%.
In other Virtu Financial news, CEO Douglas A. Cifu sold 93,334 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $30.33, for a total transaction of $2,830,820.22. Following the transaction, the chief executive officer now directly owns 335,450 shares of the company’s stock, valued at $10,174,198.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas A. Cifu sold 117,043 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $29.91, for a total transaction of $3,500,756.13. Following the transaction, the chief executive officer now directly owns 267,043 shares in the company, valued at $7,987,256.13. The disclosure for this sale can be found here. Insiders have sold 7,112,452 shares of company stock worth $194,307,000 over the last three months. 73.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in Virtu Financial during the first quarter valued at $1,034,000. Summit Trail Advisors LLC increased its position in Virtu Financial by 246.8% during the first quarter. Summit Trail Advisors LLC now owns 56,206 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 40,000 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Virtu Financial during the first quarter worth about $231,000. Cubist Systematic Strategies LLC acquired a new stake in Virtu Financial during the first quarter worth about $446,000. Finally, Barclays PLC increased its position in Virtu Financial by 142.4% during the first quarter. Barclays PLC now owns 10,441 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 6,134 shares during the last quarter. 25.53% of the stock is currently owned by institutional investors and hedge funds.
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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