Virtu Financial (NASDAQ:VIRT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Virtu Financial (NASDAQ:VIRT) in a research note released on Thursday, Benzinga reports. They currently have a $35.00 target price on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Bank of America decreased their price target 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. The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the stock 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. UBS Group raised their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Finally, Morgan Stanley upped their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.50.

Virtu Financial Stock Up 0.4 %

Virtu Financial stock opened at $30.97 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $4.87 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38. The business has a 50 day simple moving average of $31.41 and a 200-day simple moving average of $26.56. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $33.55.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, analysts anticipate that Virtu Financial will post 2.66 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Sunday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insider Activity

In other 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 sale, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in Virtu Financial by 3.5% in the second quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after buying an additional 124,563 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Virtu Financial by 39.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after purchasing an additional 342,327 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Virtu Financial by 1.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock valued at $16,408,000 after purchasing an additional 7,721 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Virtu Financial by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock worth $15,296,000 after purchasing an additional 9,826 shares in the last quarter. Finally, Old West Investment Management LLC boosted its position in shares of Virtu Financial by 4.3% during the second quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock worth $15,298,000 after buying an additional 28,199 shares during the period. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

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.