Virtu Financial (NASDAQ:VIRT) Reaches New 1-Year High After Earnings Beat

Virtu Financial, Inc. (NASDAQ:VIRTGet Free Report) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $40.29 and last traded at $39.28, with a volume of 22186 shares traded. The stock had previously closed at $38.93.

The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VIRT shares. Citigroup increased their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler increased their price target on Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Bank of America decreased their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.21.

Get Our Latest Stock Analysis on VIRT

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in Virtu Financial by 38.0% during the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock worth $151,511,000 after purchasing an additional 1,368,419 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Virtu Financial during the 3rd quarter worth about $29,815,000. Portolan Capital Management LLC purchased a new stake in Virtu Financial during the 3rd quarter worth about $11,918,000. JPMorgan Chase & Co. increased its position in Virtu Financial by 48.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 358,065 shares of the financial services provider’s stock worth $10,907,000 after purchasing an additional 117,062 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Virtu Financial by 400.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,546 shares of the financial services provider’s stock worth $10,008,000 after purchasing an additional 262,835 shares in the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Trading Up 0.1 %

The stock has a market cap of $6.02 billion, a PE ratio of 19.57, a PEG ratio of 0.49 and a beta of 0.45. The business has a 50-day moving average of $36.64 and a 200 day moving average of $32.86. 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 Company Profile

(Get Free Report)

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.

Further Reading

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