Virtu Financial, Inc. (NASDAQ:VIRT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) have received a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.50.

Several research firms recently commented on VIRT. Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup increased their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Bank of America cut their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd.

Virtu Financial Price Performance

VIRT opened at $36.71 on Wednesday. The firm has a market capitalization of $5.68 billion, a P/E ratio of 18.45, a PEG ratio of 0.57 and a beta of 0.38. The stock has a fifty day moving average of $32.80 and a 200-day moving average of $28.42. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. Virtu Financial has a 12-month low of $16.02 and a 12-month high of $38.09.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. During the same period in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. Equities analysts forecast that Virtu Financial will post 2.71 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Friday, November 29th. Virtu Financial’s dividend payout ratio is 48.24%.

Institutional Investors Weigh In On Virtu Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIRT. USA Financial Formulas bought a new position in shares of Virtu Financial in the third quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new position in Virtu Financial in the 2nd quarter worth $39,000. Abich Financial Wealth Management LLC raised its holdings in 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 period. Innealta Capital LLC acquired a new position in Virtu Financial during the 2nd quarter worth $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in Virtu Financial by 21.0% during the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 372 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

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.