Virtu Financial (NASDAQ:VIRT) PT Raised to $21.50 at JPMorgan Chase & Co.

Virtu Financial (NASDAQ:VIRT) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $20.00 to $21.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 2.36% from the stock’s current price.

A number of other research firms also recently commented on VIRT. Bank of America boosted their target price on Virtu Financial from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup upped their price objective on Virtu Financial from $21.00 to $22.50 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Piper Sandler upped their price objective on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley upped their price objective on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.24.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $22.02 on Thursday. The stock has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $18.84. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $22.80. The firm has a market capitalization of $3.48 billion, a PE ratio of 15.40, a P/E/G ratio of 0.60 and a beta of 0.40. 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 (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.13). The business had revenue of $535.98 million during the quarter, compared to analysts’ expectations of $272.96 million. Virtu Financial had a net margin of 6.04% and a return on equity of 17.14%. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Analysts forecast that Virtu Financial will post 1.8 EPS for the current year.

Insider Activity

In other Virtu Financial news, CEO Douglas A. Cifu bought 50,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average price of $16.21 per share, with a total value of $810,500.00. Following the completion of the purchase, the chief executive officer now owns 584,132 shares in the company, valued at approximately $9,468,779.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 44.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VIRT. Norges Bank bought a new position in Virtu Financial in the fourth quarter worth approximately $12,575,000. William Blair Investment Management LLC grew its stake in Virtu Financial by 7.6% in the third quarter. William Blair Investment Management LLC now owns 8,347,311 shares of the financial services provider’s stock worth $144,158,000 after purchasing an additional 588,749 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Virtu Financial by 156.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 801,024 shares of the financial services provider’s stock worth $13,834,000 after purchasing an additional 489,264 shares in the last quarter. 1834 Investment Advisors Co. grew its stake in Virtu Financial by 913.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 306,289 shares of the financial services provider’s stock worth $6,205,000 after purchasing an additional 276,071 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Virtu Financial in the third quarter worth approximately $2,294,000. 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.