Piper Sandler Reaffirms “Overweight” Rating for Virtu Financial (NASDAQ:VIRT)

Virtu Financial (NASDAQ:VIRT)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a report released on Thursday, Benzinga reports. They presently have a $35.00 price target on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 13.56% from the company’s current price.

Several other equities analysts have also recently commented on VIRT. Morgan Stanley upped their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. The Goldman Sachs Group boosted their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Bank of America reduced their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.50.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT traded down $1.53 during midday trading on Thursday, hitting $30.82. The company’s stock had a trading volume of 1,258,433 shares, compared to its average volume of 1,279,508. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day simple moving average is $31.34 and its 200 day simple moving average is $26.37. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.49 and a beta of 0.38. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $33.55.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its position in Virtu Financial by 76.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 31,884 shares during the last quarter. GSA Capital Partners LLP bought a new position in Virtu Financial in the first quarter valued at about $1,238,000. Diversify Advisory Services LLC acquired a new stake in Virtu Financial in the first quarter worth about $957,000. Seven Eight Capital LP bought a new stake in Virtu Financial during the 1st quarter worth about $1,368,000. Finally, SG Americas Securities LLC lifted its position in Virtu Financial by 591.6% during the 1st quarter. SG Americas Securities LLC now owns 50,199 shares of the financial services provider’s stock valued at $1,030,000 after purchasing an additional 42,941 shares during the period. 45.78% of the stock is owned by institutional investors.

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.