Virtu Financial (VIRT) Rating Lowered to Sell at Zacks Investment Research

Virtu Financial (NASDAQ:VIRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Virtu Financial, Inc. is a financial holding company. The company offers a technology platform through which it provides quotations to buyers and sellers in equities, commodities, currencies, options, fixed income and other securities on exchanges, markets and liquidity pools. Virtu Financial, Inc. is headquartered in New York. “

Several other analysts have also weighed in on VIRT. Morgan Stanley initiated coverage on Virtu Financial in a report on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 price objective on the stock. BidaskClub raised Virtu Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 18th. Compass Point initiated coverage on Virtu Financial in a report on Wednesday, September 19th. They set a “neutral” rating and a $23.00 price objective on the stock. Citigroup reissued a “hold” rating on shares of Virtu Financial in a report on Friday, October 5th. Finally, ValuEngine raised Virtu Financial from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Virtu Financial has a consensus rating of “Hold” and an average price target of $30.64.

Shares of NASDAQ:VIRT traded up $0.83 during trading on Thursday, hitting $25.86. 46,136 shares of the stock were exchanged, compared to its average volume of 1,092,099. Virtu Financial has a 1-year low of $16.15 and a 1-year high of $37.85. The firm has a market capitalization of $4.74 billion, a PE ratio of 45.39, a PEG ratio of 3.55 and a beta of -0.93. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Virtu Financial had a return on equity of 19.85% and a net margin of 12.32%. The company had revenue of $177.92 million for the quarter, compared to analyst estimates of $171.99 million. During the same quarter last year, the firm earned $0.08 EPS. Virtu Financial’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Virtu Financial will post 1.41 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its position in Virtu Financial by 19,303.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,045 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 5,019 shares during the last quarter. Strs Ohio bought a new position in Virtu Financial in the 2nd quarter valued at $201,000. State of Wisconsin Investment Board bought a new position in Virtu Financial in the 2nd quarter valued at $203,000. State Board of Administration of Florida Retirement System bought a new position in Virtu Financial in the 2nd quarter valued at $206,000. Finally, BNP Paribas Arbitrage SA raised its position in Virtu Financial by 57.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,498 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 3,094 shares during the last quarter. Hedge funds and other institutional investors own 55.59% of the company’s stock.

Virtu Financial Company Profile

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.

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