Virtu Financial (NASDAQ:VIRT) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Virtu Financial (NASDAQ:VIRTFree Report) in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has a $21.00 price target on the financial services provider’s stock.

A number of other brokerages have also commented on VIRT. Morgan Stanley lowered their price objective on Virtu Financial from $20.00 to $19.00 and set an equal weight rating for the company in a research report on Monday, January 29th. StockNews.com lowered Virtu Financial from a hold rating to a sell rating in a research report on Friday, January 26th. Bank of America started coverage on Virtu Financial in a research report on Tuesday, November 28th. They issued a buy rating and a $20.00 price objective for the company. Citigroup reduced their target price on Virtu Financial from $22.00 to $21.00 and set a buy rating on the stock in a report on Friday, January 26th. Finally, UBS Group reduced their target price on Virtu Financial from $20.00 to $18.00 and set a neutral rating on the stock in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Virtu Financial presently has a consensus rating of Hold and an average target price of $19.67.

Check Out Our Latest Research Report on Virtu Financial

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $20.25 on Friday. Virtu Financial has a twelve month low of $16.02 and a twelve month high of $21.03. The firm has a market cap of $3.20 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 5.76 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.46 and a current ratio of 0.46. The business has a fifty day moving average of $17.98 and a 200-day moving average of $18.30.

Virtu Financial (NASDAQ:VIRTGet Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The business had revenue of $535.98 million during the quarter, compared to analyst estimates of $272.96 million. Virtu Financial had a net margin of 6.22% and a return on equity of 16.94%. During the same quarter last year, the business posted $0.32 earnings per share. On average, equities research analysts predict that Virtu Financial will post 1.79 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Thursday, February 29th. Virtu Financial’s dividend payout ratio (DPR) is currently 68.57%.

Insider Activity

In other Virtu Financial news, CEO Douglas A. Cifu acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average price of $16.21 per share, for a total transaction of $810,500.00. Following the acquisition, the chief executive officer now directly owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 44.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Virtu Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of VIRT. Capital World Investors acquired a new stake in Virtu Financial in the 1st quarter valued at approximately $58,287,000. Norges Bank acquired a new stake in Virtu Financial in the 4th quarter valued at approximately $19,031,000. AQR Capital Management LLC raised its position in Virtu Financial by 59.7% in the 1st quarter. AQR Capital Management LLC now owns 2,164,023 shares of the financial services provider’s stock valued at $40,272,000 after buying an additional 809,085 shares during the last quarter. Federated Hermes Inc. raised its position in Virtu Financial by 553.8% in the 1st quarter. Federated Hermes Inc. now owns 810,853 shares of the financial services provider’s stock valued at $30,180,000 after buying an additional 686,824 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Virtu Financial by 7.6% in the 3rd quarter. William Blair Investment Management LLC now owns 8,347,311 shares of the financial services provider’s stock valued at $144,158,000 after buying an additional 588,749 shares during the last quarter. Institutional investors and hedge funds own 46.02% 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.

See Also

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

Receive News & Ratings for Virtu Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtu Financial and related companies with MarketBeat.com's FREE daily email newsletter.