Brokerages Set Virtu Financial (VIRT) PT at $29.13

Shares of Virtu Financial (NASDAQ:VIRT) have earned a consensus rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $35.13.

A number of research analysts recently commented on the company. Goldman Sachs upped their target price on Virtu Financial from $17.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Evercore ISI upped their target price on Virtu Financial from $18.00 to $27.00 and gave the company an “in-line” rating in a research note on Friday, February 9th. Rosenblatt Securities upped their target price on Virtu Financial from $18.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Sandler O’Neill upped their target price on Virtu Financial from $19.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Citigroup upped their target price on Virtu Financial from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, May 8th.

Shares of Virtu Financial traded down $0.50, reaching $29.75, during trading hours on Tuesday, Marketbeat Ratings reports. 1,171,552 shares of the company’s stock were exchanged, compared to its average volume of 1,741,837. Virtu Financial has a fifty-two week low of $13.10 and a fifty-two week high of $37.85. The firm has a market cap of $5.60 billion, a PE ratio of 52.19 and a beta of -0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.77.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Friday, May 4th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The business had revenue of $406.10 million during the quarter, compared to analyst estimates of $307.24 million. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. Virtu Financial’s revenue was up 190.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. equities analysts predict that Virtu Financial will post 2.06 EPS for the current fiscal year.

Virtu Financial declared that its board has initiated a stock repurchase program on Thursday, February 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.96 annualized dividend and a yield of 3.23%. Virtu Financial’s dividend payout ratio is currently 168.42%.

In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total transaction of $93,702,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tjmt Holdings Llc sold 3,281,250 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total value of $89,118,750.00. The disclosure for this sale can be found here. Corporate insiders own 73.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. North Island ManageCo LLC acquired a new position in Virtu Financial during the fourth quarter worth $733,173,000. William Blair Investment Management LLC grew its holdings in shares of Virtu Financial by 0.4% during the fourth quarter. William Blair Investment Management LLC now owns 3,705,653 shares of the financial services provider’s stock worth $67,813,000 after purchasing an additional 14,408 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Virtu Financial by 2.0% during the first quarter. BlackRock Inc. now owns 2,100,566 shares of the financial services provider’s stock worth $69,319,000 after purchasing an additional 40,362 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Virtu Financial by 10.7% during the fourth quarter. Peregrine Capital Management LLC now owns 1,368,367 shares of the financial services provider’s stock worth $25,041,000 after purchasing an additional 131,925 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Virtu Financial by 16.6% during the fourth quarter. Royce & Associates LP now owns 779,392 shares of the financial services provider’s stock worth $14,263,000 after purchasing an additional 111,092 shares during the last quarter. Hedge funds and other institutional investors own 46.98% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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