Virtu Financial (NASDAQ:VIRT) PT Lowered to $35.00

Virtu Financial (NASDAQ:VIRT) had its price target dropped by equities research analysts at Bank of America from $37.00 to $35.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective points to a potential upside of 10.20% from the stock’s previous close.

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

Virtu Financial Stock Performance

VIRT opened at $31.76 on Thursday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 0.49 and a beta of 0.38. The company has a fifty day moving average of $30.14 and a 200 day moving average of $25.15. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43.

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

Insider Transactions at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its holdings in Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after buying an additional 372 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in Virtu Financial by 22.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 487 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Virtu Financial by 3.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 587 shares during the period. First Bank & Trust increased its position in Virtu Financial by 3.9% during the 1st quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 734 shares during the period. Finally, Quarry LP increased its position in Virtu Financial by 79.9% during 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 during the period. Institutional investors own 45.78% of the company’s stock.

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.