Brokerages Set Virtu Financial, Inc. (NASDAQ:VIRT) Target Price at $27.36

Virtu Financial, Inc. (NASDAQ:VIRT) has received an average rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $27.36.

Several brokerages have issued reports on VIRT. Piper Sandler increased their price target on Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price objective on Virtu Financial from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. UBS Group increased their price objective on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Bank of America increased their price objective on Virtu Financial from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

Virtu Financial Price Performance

Shares of VIRT stock opened at $31.35 on Friday. The stock’s fifty day moving average is $27.87 and its 200-day moving average is $23.72. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $4.89 billion, a PE ratio of 21.92, a PEG ratio of 0.50 and a beta of 0.37. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $31.85.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities research analysts expect that Virtu Financial will post 2.42 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.06%. Virtu Financial’s payout ratio is 67.13%.

Insider Activity

In other news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction that occurred 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 directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 46.70% of the company’s stock.

Institutional Trading of Virtu Financial

Several hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Virtu Financial during the 2nd quarter worth approximately $503,000. Truist Financial Corp lifted its holdings in Virtu Financial by 14.9% during the 2nd quarter. Truist Financial Corp now owns 23,766 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 3,078 shares during the last quarter. Quarry LP lifted its holdings in Virtu Financial by 129.1% during the 2nd quarter. Quarry LP now owns 6,130 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 3,454 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Virtu Financial by 26.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 267,474 shares of the financial services provider’s stock worth $6,005,000 after purchasing an additional 55,550 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in Virtu Financial during the 2nd quarter worth approximately $395,000. 45.78% of the stock is owned by institutional investors and hedge funds.

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.