Virtu Financial Inc (VIRT) Receives $26.00 Consensus Target Price from Brokerages
Virtu Financial Inc (NASDAQ:VIRT) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.00.
VIRT has been the subject of a number of recent analyst reports. Citigroup upgraded Virtu Financial from a “sell” rating to a “neutral” rating and set a $15.00 target price for the company in a report on Wednesday, November 8th. Rosenblatt Securities restated a “neutral” rating and set a $18.00 target price on shares of Virtu Financial in a report on Tuesday, November 7th. Evercore ISI upped their target price on Virtu Financial from $17.00 to $18.00 and gave the company an “in-line” rating in a report on Tuesday, November 7th. Sandler O’Neill set a $19.00 target price on Virtu Financial and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, Goldman Sachs Group upped their target price on Virtu Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th.
Shares of Virtu Financial (VIRT) traded up $0.70 during trading on Thursday, hitting $30.10. The company had a trading volume of 866,244 shares, compared to its average volume of 1,267,219. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $5,635.02, a P/E ratio of 52.81 and a beta of -0.50. Virtu Financial has a one year low of $13.10 and a one year high of $34.00.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.19%. Virtu Financial’s dividend payout ratio (DPR) is 436.38%.
Virtu Financial declared that its board has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its holdings in Virtu Financial by 7.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,682 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 1,891 shares in the last quarter. Delek Group Ltd. bought a new position in Virtu Financial in the fourth quarter worth $10,993,000. William Blair Investment Management LLC raised its holdings in Virtu Financial by 0.4% in the fourth quarter. William Blair Investment Management LLC now owns 3,705,653 shares of the financial services provider’s stock worth $67,813,000 after purchasing an additional 14,408 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Virtu Financial in the fourth quarter worth $236,000. Finally, Macquarie Group Ltd. raised its holdings in Virtu Financial by 11.7% in the fourth quarter. Macquarie Group Ltd. now owns 105,896 shares of the financial services provider’s stock worth $1,938,000 after purchasing an additional 11,120 shares in the last quarter. Institutional investors and hedge funds own 47.41% of the company’s stock.
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Virtu Financial Company Profile
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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