Virtu Financial (VIRT) to Release Earnings on Wednesday

Virtu Financial (NASDAQ:VIRT) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Virtu Financial to post earnings of $0.58 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Virtu Financial (NASDAQ:VIRT) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.13). Virtu Financial had a return on equity of 16.94% and a net margin of 6.22%. The firm had revenue of $535.98 million during the quarter, compared to analyst estimates of $272.96 million. During the same quarter last year, the business posted $0.32 EPS. On average, analysts expect Virtu Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Virtu Financial Stock Up 2.4 %

VIRT stock opened at $21.06 on Monday. Virtu Financial has a one year low of $16.02 and a one year high of $21.58. The stock has a market capitalization of $3.33 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.58 and a beta of 0.40. 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 company has a fifty day moving average of $19.18 and a 200-day moving average of $18.74.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, February 29th. Virtu Financial’s dividend payout ratio (DPR) is 68.57%.

Wall Street Analyst Weigh In

Several brokerages recently commented on VIRT. Citigroup raised their price objective on shares of Virtu Financial from $21.00 to $22.50 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Piper Sandler raised their price objective on shares of Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. UBS Group reduced their price objective on shares of Virtu Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, Morgan Stanley raised their price objective on shares of Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Four investment 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.com, the stock presently has an average rating of “Hold” and an average price target of $20.75.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Virtu Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Virtu Financial by 8.1% during the first quarter. JPMorgan Chase & Co. now owns 186,299 shares of the financial services provider’s stock worth $6,935,000 after buying an additional 13,965 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Virtu Financial by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 762,831 shares of the financial services provider’s stock worth $28,393,000 after buying an additional 55,491 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Virtu Financial during the first quarter worth about $220,000. MetLife Investment Management LLC purchased a new stake in shares of Virtu Financial during the first quarter worth about $65,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Virtu Financial by 48.7% during the first quarter. Great West Life Assurance Co. Can now owns 13,060 shares of the financial services provider’s stock worth $507,000 after buying an additional 4,275 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

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.