Virtu Financial, Inc. (NASDAQ:VIRT) Receives $29.50 Consensus Price Target from Analysts

Virtu Financial, Inc. (NASDAQ:VIRT) has received an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $29.50.

A number of brokerages recently weighed in on VIRT. Bank of America decreased their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup boosted their price objective on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective on shares of Virtu Financial in a report on Thursday, October 24th.

Virtu Financial Trading Down 3.0 %

NASDAQ VIRT opened at $36.69 on Wednesday. The company’s 50-day simple moving average is $32.62 and its two-hundred day simple moving average is $28.14. Virtu Financial has a one year low of $16.02 and a one year high of $38.09. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. Virtu Financial’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Equities analysts forecast that Virtu Financial will post 2.71 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

Institutional Trading of Virtu Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIRT. USA Financial Formulas acquired a new stake in Virtu Financial during the 3rd quarter valued at approximately $33,000. International Assets Investment Management LLC purchased a new stake in Virtu Financial in the second quarter valued at $39,000. Innealta Capital LLC acquired a new stake in Virtu Financial during the 2nd quarter worth about $46,000. First Horizon Advisors Inc. grew its position in Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after buying an additional 781 shares during the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Company Profile

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.