Virtu Financial (NYSE:VIRT) Upgraded at Wall Street Zen

Virtu Financial (NYSE:VIRT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

VIRT has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Virtu Financial from $44.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Virtu Financial in a research note on Friday, May 29th. Morgan Stanley raised their target price on Virtu Financial from $39.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday. The Goldman Sachs Group upped their price target on Virtu Financial from $51.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, Piper Sandler raised their price objective on shares of Virtu Financial from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.67.

Virtu Financial Stock Performance

Shares of VIRT stock traded down $0.99 on Friday, hitting $65.83. 1,049,473 shares of the stock were exchanged, compared to its average volume of 1,226,524. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $10.21 billion, a PE ratio of 10.90, a P/E/G ratio of 1.61 and a beta of 0.58. Virtu Financial has a one year low of $31.55 and a one year high of $68.02. The firm’s 50 day moving average is $56.17 and its two-hundred day moving average is $46.06.

Virtu Financial (NYSE:VIRT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.58. The business had revenue of $786.53 million for the quarter, compared to analysts’ expectations of $613.12 million. Virtu Financial had a return on equity of 51.63% and a net margin of 14.17%.The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. Sell-side analysts expect that Virtu Financial will post 5.7 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Brett Fairclough sold 30,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the completion of the transaction, the chief operating officer owned 42,473 shares of the company’s stock, valued at approximately $2,126,198.38. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.76% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Several hedge funds have recently bought and sold shares of the stock. Transamerica Financial Advisors LLC grew its stake in Virtu Financial by 480.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company’s stock worth $28,000 after buying an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Virtu Financial by 103.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $34,000 after buying an additional 387 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Virtu Financial by 51.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock valued at $35,000 after buying an additional 332 shares in the last quarter. Quarry LP purchased a new stake in shares of Virtu Financial during the 3rd quarter valued at $35,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Virtu Financial during the 4th quarter worth $37,000. 45.78% of the stock is currently owned by institutional investors.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.