Virtu Financial (VIRT) to Release Quarterly Earnings on Wednesday

Virtu Financial (NASDAQ:VIRT - Get Free Report) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, April 23rd. Analysts expect the company to announce earnings of $0.99 per share and revenue of $444.23 million for the quarter. Parties that wish to register for the company's conference call can do so using this link.

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 net margin of 9.61% and a return on equity of 27.39%. On average, analysts expect Virtu Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Virtu Financial Stock Up 1.7 %

NASDAQ:VIRT traded up $0.66 during trading hours on Friday, reaching $38.46. The company's stock had a trading volume of 1,170,164 shares, compared to its average volume of 1,192,250. Virtu Financial has a 12 month low of $20.44 and a 12 month high of $41.38. The stock has a 50 day moving average price of $36.69 and a two-hundred day moving average price of $35.93. The company has a market capitalization of $5.96 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.46 and a current ratio of 1.13.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.50%. Virtu Financial's dividend payout ratio (DPR) is presently 32.32%.

Insider Buying and Selling

In other news, COO Brett Fairclough sold 72,967 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $36.84, for a total value of $2,688,104.28. Following the transaction, the chief operating officer now directly owns 90,749 shares of the company's stock, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Cavoli sold 34,000 shares of Virtu Financial stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $37.41, for a total value of $1,271,940.00. Following the sale, the executive vice president now directly owns 157,703 shares of the company's stock, valued at $5,899,669.23. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,967 shares of company stock worth $5,213,964 in the last 90 days. Insiders own 46.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VIRT. Morgan Stanley downgraded shares of Virtu Financial from an "equal weight" rating to an "underweight" rating and set a $26.00 price objective on the stock. in a research report on Tuesday, April 8th. Piper Sandler increased their price objective on Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Finally, Bank of America dropped their target price on Virtu Financial from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $32.21.

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.