Brokerages Set Virtu Financial, Inc. (NASDAQ:VIRT) PT at $30.21

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) have been assigned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $30.21.

A number of equities research analysts have commented on VIRT shares. Citigroup raised their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America cut their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Piper Sandler boosted their price target on shares of Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th.

Virtu Financial Stock Performance

VIRT opened at $35.99 on Thursday. 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 has a 52-week low of $16.02 and a 52-week high of $38.45. The firm has a market cap of $5.56 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.45. The business’s fifty day moving average is $36.09 and its 200-day moving average is $31.77.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. Sell-side analysts expect that Virtu Financial will post 2.8 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

Institutional Investors Weigh In On Virtu Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas bought a new position in Virtu Financial in the 3rd quarter worth $33,000. GAMMA Investing LLC boosted its holdings in shares of Virtu Financial by 149.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,442 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in Virtu Financial by 22.2% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 487 shares during the last quarter. KBC Group NV increased its position in Virtu Financial by 42.9% in the third quarter. KBC Group NV now owns 2,864 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 860 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Virtu Financial by 158.2% during the 3rd quarter. Private Trust Co. NA now owns 5,856 shares of the financial services provider’s stock valued at $178,000 after buying an additional 3,588 shares in the last quarter. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

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.