Virtu Financial (NASDAQ:VIRT) Given New $37.00 Price Target at Citigroup

Virtu Financial (NASDAQ:VIRT) had its price target lifted by analysts at Citigroup from $32.00 to $37.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 16.43% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Piper Sandler increased their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. UBS Group boosted their price objective on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. The Goldman Sachs Group raised their target price on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Bank of America lowered 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 report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Virtu Financial currently has a consensus rating of “Hold” and an average target price of $28.79.

Virtu Financial Stock Down 0.9 %

Shares of Virtu Financial stock traded down $0.30 on Wednesday, hitting $31.78. The company had a trading volume of 819,464 shares, compared to its average volume of 1,300,086. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.54 and a beta of 0.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $32.88. The stock has a 50 day moving average of $30.37 and a 200-day moving average of $25.48.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. During the same period last year, the business earned $0.29 EPS. The business’s revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts forecast that Virtu Financial will post 2.47 earnings per share for the current year.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Virtu Financial

Hedge funds have recently bought and sold shares of the company. USA Financial Formulas bought a new position in Virtu Financial in the 3rd quarter worth about $33,000. Peddock Capital Advisors LLC grew its holdings in shares of Virtu Financial by 12.7% during the third quarter. Peddock Capital Advisors LLC now owns 22,530 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 2,540 shares in the last quarter. City Center Advisors LLC purchased a new position in shares of Virtu Financial during the third quarter worth about $238,000. GAMMA Investing LLC increased its position 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 worth $73,000 after purchasing an additional 1,442 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Virtu Financial by 28.1% in the third quarter. Handelsbanken Fonder AB now owns 21,900 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 4,800 shares in the last quarter. Hedge funds and other 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.