Analysts Set Virtu Financial, Inc. (NASDAQ:VIRT) Price Target at $29.50

Virtu Financial, Inc. (NASDAQ:VIRT) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.50.

A number of analysts have recently commented on VIRT shares. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. Bank of America cut their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley increased their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $31.56 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $33.55. The firm’s 50 day moving average is $31.54 and its two-hundred day moving average is $26.84. The firm has a market capitalization of $4.88 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.49 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. During the same period last year, the firm posted $0.40 EPS. The company’s revenue was up 30.2% on a year-over-year basis. Research analysts forecast that Virtu Financial will post 2.7 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Sunday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Virtu Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIRT. USA Financial Formulas acquired a new stake in shares of Virtu Financial in the 3rd quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new stake in Virtu Financial in the second quarter valued at $39,000. Abich Financial Wealth Management LLC boosted its position in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Virtu Financial during the 2nd quarter worth $46,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Virtu Financial by 21.0% during the 2nd 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 during the period. Institutional investors and hedge funds 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.