Virtu Financial (NASDAQ:VIRT) PT Raised to $25.00 at Morgan Stanley

Virtu Financial (NASDAQ:VIRT) had its target price upped by research analysts at Morgan Stanley from $23.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential downside of 24.20% from the company’s previous close.

Other analysts have also issued research reports about the company. UBS Group upped their target price on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Bank of America dropped their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Citigroup increased their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.50.

Virtu Financial Stock Up 0.4 %

Shares of VIRT opened at $32.98 on Thursday. The firm has a market cap of $5.18 billion, a P/E ratio of 23.06, a P/E/G ratio of 0.54 and a beta of 0.38. The stock has a 50 day simple moving average of $31.16 and a two-hundred day simple moving average of $26.09. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $33.55.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.23. The business had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. Virtu Financial’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, analysts forecast that Virtu Financial will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Virtu Financial

A number of institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 372 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Virtu Financial by 22.2% in the second 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. Mercer Global Advisors Inc. ADV raised its holdings in Virtu Financial by 3.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 587 shares in the last quarter. First Bank & Trust raised its holdings in Virtu Financial by 3.9% in the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 734 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Virtu Financial in the third quarter worth $33,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Company Profile

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.