Bank of America Lowers Virtu Financial (NASDAQ:VIRT) Price Target to $35.00

Virtu Financial (NASDAQ:VIRT) had its price target trimmed by Bank of America from $37.00 to $35.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

VIRT has been the topic of a number of other reports. UBS Group raised their price target on Virtu Financial from $18.00 to $24.00 and gave the company a neutral rating in a report on Monday, July 1st. StockNews.com upgraded Virtu Financial from a sell rating to a hold rating in a research report on Wednesday, June 19th. Citigroup increased their price target on Virtu Financial from $26.00 to $32.00 and gave the company a buy rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the company a neutral rating in a research report on Monday, September 30th. Finally, Piper Sandler upped their target price on Virtu Financial from $25.00 to $31.00 and gave the company an overweight rating in a research note on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Virtu Financial has an average rating of Hold and a consensus target price of $27.50.

Virtu Financial Trading Up 0.8 %

Shares of NASDAQ:VIRT opened at $31.76 on Thursday. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $32.88. The stock’s fifty day moving average price is $30.21 and its 200-day moving average price is $25.32. 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 company has a market cap of $4.99 billion, a P/E ratio of 22.21, a PEG ratio of 0.49 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The firm had revenue of $385.10 million for the quarter, compared to the consensus estimate of $331.92 million. During the same period last year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side analysts expect that Virtu Financial will post 2.47 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio is presently 67.13%.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction dated Monday, August 5th. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 46.70% of the stock is owned by insiders.

Institutional Trading of Virtu Financial

Institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Virtu Financial in the first quarter valued at about $26,000. Quarry LP raised its position in Virtu Financial by 79.9% in the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial in the 2nd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC lifted its holdings in 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 buying an additional 781 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Virtu Financial in the second quarter valued at approximately $46,000. 45.78% of the stock is owned by institutional investors and hedge funds.

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.