Virtu Financial, Inc. (NYSE:VIRT) Stock Has Consensus Target Price of $63.60 According to Brokerages

by · The Markets Daily

Virtu Financial, Inc. (NYSE:VIRT – Get Free Report) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $63.60.

A number of research analysts have recently commented on VIRT shares. Piper Sandler reaffirmed an “overweight” rating on shares of Virtu Financial in a research note on Friday, October 2nd. Evercore raised shares of Virtu Financial to an “outperform” rating in a report on Monday, October 5th. JPMorgan Chase & Co. raised shares of Virtu Financial from a “neutral” rating to an “overweight” rating and set a $84.00 price target for the company in a report on Monday, October 5th. The Goldman Sachs Group raised their target price on shares of Virtu Financial from $51.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Virtu Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Check Out Our Latest Report on Virtu Financial

Virtu Financial Stock Down 0.5%

VIRT stock opened at $55.98 on Wednesday. The stock has a market cap of $8.69 billion, a P/E ratio of 9.42, a PEG ratio of 0.41 and a beta of 0.65. The company’s 50 day moving average is $59.54 and its two-hundred day moving average is $56.85. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.87. Virtu Financial has a twelve month low of $31.55 and a twelve month high of $68.76.

Virtu Financial (NYSE:VIRT – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $687.23 million. Virtu Financial had a return on equity of 49.06% and a net margin of 13.50%. During the same period last year, the firm earned $1.65 EPS. Research analysts expect that Virtu Financial will post 6.50 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. Virtu Financial’s dividend payout ratio is 15.95%.

Insiders Place Their Bets

In other Virtu Financial news, Director Joseph Grano, Jr. sold 8,400 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $60.94, for a total transaction of $511,896.00. Following the transaction, the director owned 33,814 shares in the company, valued at $2,060,625.16. This trade represents a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Nixon sold 9,094 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $60.13, for a total transaction of $546,822.22. Following the transaction, the director directly owned 30,902 shares in the company, valued at $1,858,137.26. This trade represents a 22.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 46.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Virtu Financial

Large investors have recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in Virtu Financial by 16.3% during the third quarter. CoreCap Advisors LLC now owns 1,679 shares of the company’s stock worth $93,000 after purchasing an additional 235 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Virtu Financial by 4.3% in the second quarter. GAMMA Investing LLC now owns 6,310 shares of the company’s stock valued at $376,000 after buying an additional 259 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Virtu Financial by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 34,568 shares of the company’s stock valued at $1,520,000 after purchasing an additional 362 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Virtu Financial by 1.7% during the third quarter. Yousif Capital Management LLC now owns 22,277 shares of the company’s stock worth $1,229,000 after purchasing an additional 362 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Virtu Financial by 1.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 23,815 shares of the company’s stock valued at $1,419,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Company Profile

(Get Free Report)

Virtu Financial, Inc is a global financial services company that provides liquidity, trading, and technology solutions to the financial markets. Through its market-making business, Virtu facilitates trading in a broad range of products, including equities, exchange-traded funds, options, fixed income, foreign exchange, commodities, and certain digital assets.

The company also operates an execution services business that provides trading and workflow technology to institutional investors, asset managers, broker-dealers, and other financial institutions.

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