Citigroup Raises Virtu Financial (NASDAQ:VIRT) Price Target to $37.50

Virtu Financial (NASDAQ:VIRT – Get Rating) had its price objective raised by Citigroup from $36.00 to $37.50 in a report released on Wednesday, April 13th, The Fly reports. Citigroup’s price target would indicate a potential upside of 27.20% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. StockNews.com assumed coverage on shares of Virtu Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler boosted their price target on shares of Virtu Financial from $38.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 1st. Rosenblatt Securities boosted their price target on shares of Virtu Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 9th. Finally, Zacks Investment Research upgraded shares of Virtu Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, February 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $38.17.

Shares of Virtu Financial stock traded up $0.74 during trading hours on Wednesday, reaching $29.48. 1,708,125 shares of the company’s stock were exchanged, compared to its average volume of 1,287,324. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $35.18 and a two-hundred day moving average of $31.31. The stock has a market cap of $5.25 billion, a P/E ratio of 9.89 and a beta of -0.20. Virtu Financial has a fifty-two week low of $23.19 and a fifty-two week high of $38.63.

Virtu Financial (NASDAQ:VIRT – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The firm had revenue of $522.31 million for the quarter, compared to analysts’ expectations of $483.93 million. Virtu Financial had a net margin of 13.99% and a return on equity of 38.27%. The business’s revenue was down 28.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. As a group, analysts expect that Virtu Financial will post 3.64 earnings per share for the current fiscal year.

In other Virtu Financial news, major shareholder Private Ltd Gic sold 4,027,062 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $31.04, for a total transaction of $125,000,004.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 49.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in Virtu Financial in the 4th quarter worth approximately $27,000. Signaturefd LLC boosted its position in Virtu Financial by 93.4% in the 4th quarter. Signaturefd LLC now owns 1,027 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 496 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Virtu Financial in the 4th quarter worth approximately $50,000. Retirement Planning Co of New England Inc. purchased a new stake in Virtu Financial in the 4th quarter worth approximately $62,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Virtu Financial in the 1st quarter worth approximately $130,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

About Virtu Financial (Get Rating)

Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.

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