Virtu Financial (NASDAQ:VIRT) Price Target Cut to $35.00

Virtu Financial (NASDAQ:VIRT) had its target price lowered by equities research analysts at Bank of America from $37.00 to $35.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 12.61% from the stock’s current price.

VIRT has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup increased their price target on Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Piper Sandler raised their target price on Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, UBS Group raised their target price on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.50.

Virtu Financial Trading Down 0.3 %

NASDAQ:VIRT traded down $0.10 during trading hours on Thursday, hitting $31.08. 370,460 shares of the company were exchanged, compared to its average volume of 1,302,477. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.48 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial has a one year low of $16.02 and a one year high of $32.88. The company has a fifty day simple moving average of $30.06 and a 200 day simple moving average of $25.10.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The firm had revenue of $385.10 million during the quarter, compared to the consensus estimate of $331.92 million. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 38.2% compared to the same quarter last year. Sell-side analysts expect that Virtu Financial will post 2.47 EPS for the current fiscal year.

Insider Buying and Selling at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its holdings in shares of Virtu Financial by 76.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 31,884 shares during the period. GSA Capital Partners LLP bought a new stake in Virtu Financial during the 1st quarter valued at $1,238,000. Diversify Advisory Services LLC bought a new stake in Virtu Financial during the 1st quarter valued at $957,000. Seven Eight Capital LP bought a new stake in Virtu Financial during the 1st quarter valued at $1,368,000. Finally, Nebula Research & Development LLC bought a new stake in Virtu Financial during the 4th quarter valued at $1,478,000. 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.