Virtu Financial, Inc. (NASDAQ:VIRT) Receives $29.50 Consensus Target Price from Analysts

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $29.50.

VIRT has been the topic of a number of recent research reports. Bank of America decreased their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Citigroup lifted their target price 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. Morgan Stanley increased their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a report on Thursday, October 24th.

Hedge Funds Weigh In On Virtu Financial

Institutional investors have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Virtu Financial during the third quarter worth $33,000. International Assets Investment Management LLC acquired a new position in Virtu Financial during the 2nd quarter worth about $39,000. Abich Financial Wealth Management LLC grew 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 acquiring an additional 781 shares during the last quarter. Innealta Capital LLC acquired a new stake in Virtu Financial in the 2nd quarter valued at about $46,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Trading Down 0.2 %

Shares of Virtu Financial stock opened at $36.71 on Wednesday. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $38.09. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.57 and a beta of 0.38. The company’s fifty day simple moving average is $32.80 and its 200-day simple moving average is $28.42. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Virtu Financial will post 2.71 EPS for the current year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

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.