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

Virtu Financial (NASDAQ:VIRTGet Rating) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $40.00 to $37.50 in a research note issued on Friday, The Fly reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.64% from the company’s previous close.

VIRT has been the topic of several other research reports. Piper Sandler lifted their target price on Virtu Financial from $38.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, April 1st. Rosenblatt Securities lifted their price objective on Virtu Financial from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. Citigroup lifted their price objective on Virtu Financial from $36.00 to $37.50 in a research note on Wednesday, April 13th. StockNews.com began coverage on Virtu Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised Virtu Financial from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.17.

Shares of VIRT opened at $29.38 on Friday. The business’s 50 day moving average is $35.54 and its 200 day moving average is $31.19. The company has a market capitalization of $5.23 billion, a PE ratio of 7.59 and a beta of -0.42. Virtu Financial has a 12-month low of $23.19 and a 12-month high of $38.63. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.86.

Virtu Financial (NASDAQ:VIRTGet Rating) last issued its earnings results on Thursday, April 28th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. The company had revenue of $522.31 million for the quarter, compared to the consensus estimate of $483.93 million. Virtu Financial had a return on equity of 37.85% and a net margin of 16.96%. The firm’s quarterly revenue was down 28.3% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. Equities research analysts predict that Virtu Financial will post 3.89 earnings per share for the current year.

In other news, major shareholder Private Ltd Gic sold 4,027,062 shares of Virtu Financial stock in a transaction that occurred on Friday, February 4th. The stock was sold at an average price of $31.04, for a total value of $125,000,004.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 63.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC raised its position in Virtu Financial by 38.6% during the 3rd quarter. William Blair Investment Management LLC now owns 9,732,667 shares of the financial services provider’s stock valued at $237,769,000 after purchasing an additional 2,710,178 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Virtu Financial during the 4th quarter valued at $37,552,000. Allspring Global Investments Holdings LLC bought a new stake in Virtu Financial during the 4th quarter valued at $28,799,000. Norges Bank bought a new stake in Virtu Financial during the 4th quarter valued at $24,903,000. Finally, Voloridge Investment Management LLC bought a new stake in Virtu Financial during the 3rd quarter valued at $10,437,000. Institutional investors own 99.64% 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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