Virtu Financial’s (VIRT) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Virtu Financial (NASDAQ:VIRT) in a report released on Thursday, Benzinga reports. The firm currently has a $35.00 target price on the financial services provider’s stock.

A number of other research analysts have also issued reports on VIRT. Citigroup boosted their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America cut their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. UBS Group upped their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Virtu Financial currently has a consensus rating of “Hold” and an average price target of $29.50.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $30.86 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average of $31.38 and a two-hundred day moving average of $26.41. The company has a market cap of $4.85 billion, a P/E ratio of 21.58, a PEG ratio of 0.49 and a beta of 0.38. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $33.55.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 3.11%. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.

Insider Activity

In other news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 46.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Virtu Financial

A number of institutional investors and hedge funds have recently bought and sold shares of VIRT. Renaissance Technologies LLC grew its stake in shares of Virtu Financial by 3.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock worth $81,801,000 after purchasing an additional 124,563 shares during the last quarter. Bank of New York Mellon Corp grew its position in Virtu Financial by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock worth $27,295,000 after buying an additional 342,327 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Virtu Financial by 1.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 799,623 shares of the financial services provider’s stock worth $16,408,000 after buying an additional 7,721 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Virtu Financial by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock valued at $15,296,000 after buying an additional 9,826 shares in the last quarter. Finally, Old West Investment Management LLC lifted its position in shares of Virtu Financial by 4.3% during the 2nd quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock valued at $15,298,000 after acquiring an additional 28,199 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

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.