Virtu Financial Inc (VIRT) Given Consensus Rating of “Hold” by Brokerages
Virtu Financial Inc (NASDAQ:VIRT) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.10.
Several research firms have issued reports on VIRT. Compass Point began coverage on Virtu Financial in a research note on Wednesday, September 19th. They set a “neutral” rating and a $23.00 target price for the company. BidaskClub raised Virtu Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. Morgan Stanley started coverage on Virtu Financial in a research note on Wednesday, August 8th. They issued an “equal weight” rating and a $22.00 price objective for the company. ValuEngine cut Virtu Financial from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Virtu Financial in a research note on Monday, July 30th.
VIRT stock traded down $0.50 during midday trading on Monday, hitting $21.45. 988,500 shares of the company’s stock were exchanged, compared to its average volume of 1,007,242. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 2.91 and a beta of -0.79. Virtu Financial has a 1-year low of $13.10 and a 1-year high of $37.85.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 4.48%. Virtu Financial’s dividend payout ratio (DPR) is presently 168.42%.
In related news, Director John Nixon bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was purchased at an average cost of $20.15 per share, for a total transaction of $100,750.00. Following the completion of the acquisition, the director now owns 24,894 shares in the company, valued at approximately $501,614.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 73.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VIRT. FMR LLC boosted its holdings in Virtu Financial by 338.5% in the second quarter. FMR LLC now owns 3,589,201 shares of the financial services provider’s stock valued at $95,294,000 after purchasing an additional 2,770,731 shares during the period. Renaissance Technologies LLC boosted its holdings in Virtu Financial by 590.7% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the financial services provider’s stock valued at $34,401,000 after purchasing an additional 1,108,100 shares during the period. Rothschild Asset Management Inc. purchased a new position in Virtu Financial in the second quarter valued at $26,513,000. Waddell & Reed Financial Inc. purchased a new position in Virtu Financial in the second quarter valued at $15,492,000. Finally, Summit Trail Advisors LLC boosted its holdings in Virtu Financial by 2,855.4% in the first quarter. Summit Trail Advisors LLC now owns 478,953 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 462,747 shares during the period. Hedge funds and other institutional investors own 54.14% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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