Virtu Financial (NASDAQ:VIRT) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Virtu Financial (NASDAQ:VIRT) posted its quarterly earnings data on Thursday. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03, Briefing.com reports. The business had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 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 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share.

Virtu Financial Stock Performance

Virtu Financial stock traded up $0.11 during trading hours on Friday, reaching $30.97. 1,104,090 shares of the company were exchanged, compared to its average volume of 1,282,295. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.49 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average of $31.41 and a 200 day moving average of $26.56. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $33.55.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. Virtu Financial’s payout ratio is currently 67.13%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group upped their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group upped their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $35.00 price target on shares of Virtu Financial in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Virtu Financial presently has a consensus rating of “Hold” and an average price target of $29.50.

Insiders Place Their Bets

In other news, Director Virginia Gambale sold 5,400 shares of the 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 completion of the sale, the director now directly owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 46.70% 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.