Shares of Virtu Financial, Inc. (NYSE:VIRT – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $48.6667.
VIRT has been the subject of several recent research reports. Wall Street Zen downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Piper Sandler boosted their price objective on shares of Virtu Financial from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Virtu Financial in a research report on Friday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of Virtu Financial from $44.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of Virtu Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th.
Check Out Our Latest Stock Analysis on VIRT
Virtu Financial Stock Down 1.8%
Virtu Financial (NYSE:VIRT – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.58. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The company had revenue of $786.53 million during the quarter, compared to the consensus estimate of $613.12 million. During the same period in the previous year, the firm posted $1.30 EPS. The firm’s revenue was up 30.7% compared to the same quarter last year. Equities research analysts expect that Virtu Financial will post 5.7 earnings per share for the current fiscal year.
Virtu Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.24 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. Virtu Financial’s payout ratio is presently 15.89%.
Insider Activity
In related news, COO Brett Fairclough sold 30,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the transaction, the chief operating officer owned 42,473 shares in the company, valued at $2,126,198.38. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.76% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Virtu Financial
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in Virtu Financial by 1,624.1% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the company’s stock worth $38,000 after purchasing an additional 942 shares during the period. United Services Automobile Association purchased a new stake in Virtu Financial in the first quarter worth about $222,000. Empowered Funds LLC bought a new stake in shares of Virtu Financial during the first quarter valued at approximately $1,934,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Virtu Financial by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,233 shares of the company’s stock valued at $8,624,000 after purchasing an additional 26,743 shares during the last quarter. Finally, Creative Planning purchased a new stake in Virtu Financial during the 2nd quarter valued at $235,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.
The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.
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