Virtu Financial (VIRT) to Release Quarterly Earnings on Wednesday

Virtu Financial (NASDAQ:VIRT) is scheduled to post its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Virtu Financial to post earnings of $0.58 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Virtu Financial had a return on equity of 16.94% and a net margin of 6.22%. The business had revenue of $535.98 million for the quarter, compared to analysts’ expectations of $272.96 million. During the same quarter last year, the company earned $0.32 earnings per share. On average, analysts expect Virtu Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Virtu Financial Stock Down 0.3 %

VIRT stock opened at $20.58 on Wednesday. The company’s 50 day moving average price is $18.92 and its 200 day moving average price is $18.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.46 and a current ratio of 0.46. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $21.58. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.58 and a beta of 0.40.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.66%. Virtu Financial’s payout ratio is 68.57%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VIRT. Citigroup upped their target price on shares of Virtu Financial from $21.00 to $22.50 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Piper Sandler increased their price objective on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, April 12th. UBS Group decreased their price objective on Virtu Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, January 26th. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley increased their price objective on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Virtu Financial has an average rating of “Hold” and a consensus price target of $20.75.

Insider Buying and Selling

In other Virtu Financial news, CEO Douglas A. Cifu acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $16.21 per share, for a total transaction of $810,500.00. Following the completion of the transaction, the chief executive officer now owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 44.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VIRT. JPMorgan Chase & Co. increased its position in Virtu Financial by 8.1% during the 1st quarter. JPMorgan Chase & Co. now owns 186,299 shares of the financial services provider’s stock worth $6,935,000 after purchasing an additional 13,965 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Virtu Financial by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 762,831 shares of the financial services provider’s stock valued at $28,393,000 after purchasing an additional 55,491 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Virtu Financial in the 1st quarter valued at about $220,000. MetLife Investment Management LLC acquired a new position in shares of Virtu Financial in the 1st quarter valued at about $65,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Virtu Financial by 48.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 13,060 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 4,275 shares in the last quarter. Hedge funds and other institutional investors own 45.78% 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.