Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $35.15, but opened at $34.30. Virtu Financial shares last traded at $34.87, with a volume of 123,046 shares.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Piper Sandler increased their target price on Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Bank of America cut their price target on shares of Virtu Financial from $56.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley cut Virtu Financial from an "equal weight" rating to an "underweight" rating and set a $26.00 target price for the company. in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Virtu Financial currently has a consensus rating of "Hold" and an average target price of $32.21.
Read Our Latest Research Report on VIRT
Virtu Financial Price Performance
The company has a quick ratio of 0.46, a current ratio of 1.13 and a debt-to-equity ratio of 1.17. The stock's 50 day moving average price is $36.78 and its two-hundred day moving average price is $35.71. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. Equities research analysts forecast that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.
Virtu Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, February 28th. Virtu Financial's payout ratio is presently 32.32%.
Insiders Place Their Bets
In related news, EVP Stephen Cavoli sold 34,000 shares of Virtu Financial stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $36.88, for a total value of $1,253,920.00. Following the sale, the executive vice president now directly owns 191,703 shares in the company, valued at approximately $7,070,006.64. The trade was a 15.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brett Fairclough sold 72,967 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the completion of the transaction, the chief operating officer now directly owns 90,749 shares in the company, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,967 shares of company stock worth $5,213,964. Corporate insiders own 46.70% of the company's stock.
Institutional Trading of Virtu Financial
Several hedge funds have recently made changes to their positions in VIRT. R Squared Ltd acquired a new stake in Virtu Financial during the 4th quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new position in Virtu Financial during the 4th quarter worth $28,000. Financial Management Professionals Inc. purchased a new stake in shares of Virtu Financial during the first quarter worth approximately $32,000. Smartleaf Asset Management LLC lifted its position in Virtu Financial by 172.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 551 shares during the period. Finally, Albion Financial Group UT acquired a new stake in Virtu Financial in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 45.78% of the company's stock.
About Virtu Financial
(
Get Free Report)
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.
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