Virtu Financial (NASDAQ:VIRT) Issues Earnings Results, Beats Expectations By $0.03 EPS

Virtu Financial (NASDAQ:VIRT - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.03, Briefing.com reports. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company's quarterly revenue was up 30.2% compared to the same quarter last year.

Virtu Financial Stock Performance

NASDAQ:VIRT traded up $0.11 during midday trading on Friday, hitting $30.97. The company's stock had a trading volume of 1,104,090 shares, compared to its average volume of 1,282,295. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $33.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $4.87 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 0.38. The firm's 50 day moving average is $31.41 and its 200-day moving average is $26.56.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.24 dividend. The ex-dividend date is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. Virtu Financial's dividend payout ratio is currently 67.13%.

Insider Buying and Selling at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the firm's stock in a transaction on 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 transaction, the director now owns 24,122 shares of the company's stock, valued at $658,530.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 46.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America cut their price target on shares of Virtu Financial from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday, September 30th. Morgan Stanley raised their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Piper Sandler restated an "overweight" rating and set a $35.00 price objective on shares of Virtu Financial in a report on Thursday. Finally, Citigroup lifted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.50.

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.