Virtu Financial (NASDAQ:VIRT) Price Target Raised to $40.00

Virtu Financial (NASDAQ:VIRT) had its target price increased by research analysts at Piper Sandler from $35.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 8.14% from the company’s current price.

Several other brokerages also recently commented on VIRT. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley increased their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup upped their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Bank of America reduced their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Five equities research 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 company currently has a consensus rating of “Hold” and an average price target of $30.21.

Virtu Financial Trading Up 2.2 %

Virtu Financial stock opened at $36.99 on Tuesday. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $38.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $5.72 billion, a PE ratio of 18.59, a PEG ratio of 0.49 and a beta of 0.45. The business’s 50-day simple moving average is $35.78 and its 200-day simple moving average is $31.36.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. USA Financial Formulas acquired a new position in shares of Virtu Financial in the 3rd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC increased its holdings 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 purchasing an additional 487 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Virtu Financial by 149.0% in the third quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,442 shares during the period. KBC Group NV lifted its holdings in Virtu Financial by 42.9% during the 3rd quarter. KBC Group NV now owns 2,864 shares of the financial services provider’s stock worth $87,000 after buying an additional 860 shares during the period. Finally, Quarry LP boosted its holdings in Virtu Financial by 129.1% in the second quarter. Quarry LP now owns 6,130 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 3,454 shares during the last quarter. Institutional investors and hedge funds 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.