Citigroup Inc. Reiterates Sell Rating for Virtu Financial, Inc. (VIRT)
Virtu Financial, Inc. (NASDAQ:VIRT)‘s stock had its “sell” rating restated by stock analysts at Citigroup Inc. in a research report issued on Thursday. They presently have a $14.00 price target on the financial services provider’s stock, down from their prior price target of $16.00. Citigroup Inc.’s target price would indicate a potential downside of 13.85% from the stock’s current price.
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. TheStreet upgraded shares of Virtu Financial from a “d-” rating to a “c-” rating in a report on Friday, May 19th. Zacks Investment Research upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, UBS AG reiterated a “buy” rating and issued a $19.00 target price (up previously from $17.00) on shares of Virtu Financial in a report on Monday, April 24th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.33.
Shares of Virtu Financial (NASDAQ VIRT) opened at 16.25 on Thursday. Virtu Financial has a 52 week low of $12.35 and a 52 week high of $19.07. The firm has a 50-day moving average of $16.86 and a 200 day moving average of $16.81. The firm has a market capitalization of $660.84 million, a price-to-earnings ratio of 24.25 and a beta of 0.39.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.10. Virtu Financial had a net margin of 3.42% and a return on equity of 16.40%. The business had revenue of $77.10 million during the quarter, compared to the consensus estimate of $82.23 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. On average, equities analysts predict that Virtu Financial will post $0.72 earnings per share for the current fiscal year.
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In other news, major shareholder Holdings (Private) Ltd Temasek bought 6,346,155 shares of the stock in a transaction dated Thursday, July 20th. The stock was bought at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 69.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in VIRT. Quantbot Technologies LP increased its stake in shares of Virtu Financial by 1,479.0% in the first quarter. Quantbot Technologies LP now owns 6,316 shares of the financial services provider’s stock valued at $107,000 after buying an additional 5,916 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Virtu Financial during the first quarter valued at approximately $109,000. First Bank & Trust increased its stake in shares of Virtu Financial by 28.4% in the first quarter. First Bank & Trust now owns 8,967 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,983 shares in the last quarter. Eagle Ridge Investment Management purchased a new stake in shares of Virtu Financial during the first quarter valued at approximately $250,000. Finally, American International Group Inc. increased its stake in shares of Virtu Financial by 7.1% in the first quarter. American International Group Inc. now owns 15,512 shares of the financial services provider’s stock valued at $264,000 after buying an additional 1,023 shares in the last quarter. Institutional investors own 43.88% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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