Virtu Financial (NASDAQ:VIRT) PT Raised to $29.00

Virtu Financial (NASDAQ:VIRT) had its target price hoisted by investment analysts at The Goldman Sachs Group from $26.00 to $29.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 5.51% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Bank of America upped their price target on Virtu Financial from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Piper Sandler upped their target price on shares of Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. UBS Group upped their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Citigroup lifted their target price on shares of Virtu Financial from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus target price of $27.79.

Virtu Financial Stock Up 0.8 %

Virtu Financial stock opened at $30.69 on Monday. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 0.48 and a beta of 0.38. The firm’s fifty day moving average price is $29.96 and its two-hundred day moving average price is $24.98. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $32.88. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results 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. The business had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 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 38.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. On average, equities research analysts predict that Virtu Financial will post 2.47 earnings per share for the current fiscal year.

Insider Activity

In related 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Several large investors have recently added to or reduced their stakes in VIRT. Norges Bank bought a new position in Virtu Financial during the fourth quarter worth about $12,575,000. Campbell & CO Investment Adviser LLC purchased a new position in Virtu Financial in the 4th quarter valued at approximately $1,722,000. Nebula Research & Development LLC bought a new stake in Virtu Financial during the 4th quarter valued at $1,478,000. Quarry LP lifted its position in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 746 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Virtu Financial in the fourth quarter worth $247,000. 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.