Virtu Financial (NASDAQ:VIRT) Sets New 52-Week High Following Better-Than-Expected Earnings

Shares of Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $40.29 and last traded at $39.28, with a volume of 22186 shares traded. The stock had previously closed at $38.93.

The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 27.69% and a net margin of 9.61%.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, February 28th. Virtu Financial's dividend payout ratio is currently 32.32%.

Wall Street Analysts Forecast Growth

VIRT has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Citigroup increased their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley boosted their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.21.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Virtu Financial during the third quarter valued at approximately $1,081,000. State of New Jersey Common Pension Fund D bought a new position in shares of Virtu Financial during the 3rd quarter valued at approximately $1,971,000. Barclays PLC grew its holdings in shares of Virtu Financial by 60.2% in the third quarter. Barclays PLC now owns 55,486 shares of the financial services provider's stock valued at $1,691,000 after purchasing an additional 20,843 shares in the last quarter. Bridgewater Associates LP increased its position in Virtu Financial by 124.7% in the third quarter. Bridgewater Associates LP now owns 53,785 shares of the financial services provider's stock worth $1,638,000 after purchasing an additional 29,844 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Virtu Financial by 48.6% during the third quarter. JPMorgan Chase & Co. now owns 358,065 shares of the financial services provider's stock valued at $10,907,000 after purchasing an additional 117,062 shares in the last quarter. Hedge funds and other institutional investors own 45.78% of the company's stock.

Virtu Financial Stock Up 1.0 %

The firm has a market cap of $6.19 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.52 and a beta of 0.45. The company's 50-day simple moving average is $36.79 and its 200 day simple moving average is $33.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47.

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.