Virtu Financial (NASDAQ:VIRT) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Virtu Financial (NASDAQ:VIRT) posted its quarterly earnings data on Thursday. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03, Briefing.com reports. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year.

Virtu Financial Stock Performance

Shares of VIRT traded up $0.11 during midday trading on Friday, hitting $30.97. 1,104,090 shares of the stock traded hands, compared to its average volume of 1,282,295. The business’s 50 day moving average price is $31.41 and its two-hundred day moving average price is $26.56. The firm 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 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 $33.55.

Virtu Financial Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on VIRT. UBS Group lifted their price objective on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Citigroup upped their price objective on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday. Bank of America reduced their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Virtu Financial presently has a consensus rating of “Hold” and an average price target of $29.50.

Insider Buying and Selling

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 46.70% 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.