Virtu Financial, Inc. (VIRT) Earns In-Line Rating from Analysts at Evercore ISI
Evercore ISI started coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a report released on Monday, Marketbeat Ratings reports. The brokerage issued an in-line rating and a $17.00 price target on the financial services provider’s stock.
A number of other analysts have also recently commented on VIRT. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $16.00 target price on shares of Virtu Financial in a report on Thursday, August 10th. Citigroup Inc. reiterated a sell rating and issued a $14.00 price target (down from $16.00) on shares of Virtu Financial in a research report on Thursday, August 10th. BidaskClub lowered shares of Virtu Financial from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded shares of Virtu Financial from a sell rating to a hold rating in a research report on Wednesday, July 5th. Finally, Rosenblatt Securities started coverage on shares of Virtu Financial in a research report on Friday, September 15th. They issued a neutral rating and a $18.00 price target for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average target price of $16.17.
Virtu Financial (VIRT) opened at 16.95 on Monday. The company has a 50-day moving average of $17.05 and a 200 day moving average of $16.59. The company has a market capitalization of $1.48 billion, a P/E ratio of 36.85 and a beta of 0.32. Virtu Financial has a 12-month low of $12.35 and a 12-month high of $19.07.
Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.10). Virtu Financial had a net margin of 3.42% and a return on equity of 16.54%. The business had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $82.23 million. During the same period in the prior year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. Equities research analysts forecast that Virtu Financial will post $0.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.24 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.66%. Virtu Financial’s payout ratio is currently 188.24%.
In related news, major shareholder North Island Ventures, Llc bought 338,124 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $15.44 per share, for a total transaction of $5,220,634.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek bought 6,346,155 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average price of $15.60 per share, with a total value of $99,000,018.00. The disclosure for this purchase can be found here. Corporate insiders own 69.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. William Blair Investment Management LLC boosted its position in shares of Virtu Financial by 7.7% during the second quarter. William Blair Investment Management LLC now owns 2,750,838 shares of the financial services provider’s stock worth $48,552,000 after acquiring an additional 195,788 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Virtu Financial by 4.6% during the second quarter. Vanguard Group Inc. now owns 2,379,919 shares of the financial services provider’s stock worth $42,005,000 after acquiring an additional 104,484 shares during the last quarter. FMR LLC boosted its position in shares of Virtu Financial by 39.9% during the second quarter. FMR LLC now owns 2,215,100 shares of the financial services provider’s stock worth $39,097,000 after acquiring an additional 631,431 shares during the last quarter. Van Berkom & Associates Inc. bought a new position in shares of Virtu Financial during the second quarter worth $32,439,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Virtu Financial during the second quarter worth $19,224,000. Hedge funds and other institutional investors own 21.91% 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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