Virtu Financial (NASDAQ:VIRT) Price Target Raised to $37.00 at Citigroup

Virtu Financial (NASDAQ:VIRT) had its target price lifted by stock analysts at Citigroup from $32.00 to $37.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target indicates a potential upside of 15.09% from the company’s current price.

VIRT has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. UBS Group upped their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Bank of America lowered their target price on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.79.

Virtu Financial Trading Up 1.2 %

Shares of Virtu Financial stock opened at $32.15 on Wednesday. The firm has a market cap of $5.05 billion, a PE ratio of 22.48, a PEG ratio of 0.54 and a beta of 0.38. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $32.88. The company has a 50 day simple moving average of $30.56 and a two-hundred day simple moving average of $25.57.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. The business had revenue of $385.10 million for the quarter, compared to the consensus estimate of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. Analysts expect that Virtu Financial will post 2.47 earnings per share for the current fiscal year.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 46.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VIRT. Riverview Trust Co acquired a new position in Virtu Financial in the 1st quarter valued at $26,000. USA Financial Formulas acquired a new position in Virtu Financial in the 3rd quarter valued at $33,000. Quarry LP raised its stake in Virtu Financial by 79.9% in the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial in the 2nd quarter worth $39,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Virtu Financial by 55.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.