Virtu Financial (NASDAQ:VIRT) Price Target Raised to $40.00

Virtu Financial (NASDAQ:VIRT) had its price objective hoisted by Piper Sandler from $35.00 to $40.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

VIRT has been the subject of a number of other research reports. Bank of America dropped their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Citigroup upped their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Morgan Stanley upped their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Virtu Financial presently has an average rating of “Hold” and an average target price of $30.21.

Virtu Financial Price Performance

Virtu Financial stock opened at $36.99 on Tuesday. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $38.45. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.49 and a beta of 0.45. The company has a fifty day simple moving average of $35.90 and a 200-day simple moving average of $31.40. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm had revenue of $388.00 million during the quarter, compared to analyst estimates of $379.18 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Virtu Financial’s quarterly revenue was up 30.2% on a year-over-year basis. On average, equities analysts anticipate that Virtu Financial will post 2.71 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. Virtu Financial’s dividend payout ratio is presently 48.24%.

Institutional Trading of Virtu Financial

Hedge funds have recently made changes to their positions in the business. USA Financial Formulas acquired a new stake in shares of Virtu Financial during the third quarter worth about $33,000. GAMMA Investing LLC raised its holdings in Virtu Financial by 149.0% in the third quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,442 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Virtu Financial by 22.2% in the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 487 shares in the last quarter. KBC Group NV raised its holdings in Virtu Financial by 42.9% in the third quarter. KBC Group NV now owns 2,864 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 860 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Virtu Financial by 158.2% in the third quarter. Private Trust Co. NA now owns 5,856 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 3,588 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

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.