Virtu Financial Inc (NASDAQ:VIRT) to Issue Quarterly Dividend of $0.24
Virtu Financial Inc (NASDAQ:VIRT) declared a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Shareholders of record on Friday, September 1st will be given a dividend of 0.24 per share by the financial services provider on Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, August 30th.
Virtu Financial (NASDAQ:VIRT) traded up 4.84% on Wednesday, reaching $16.25. 954,227 shares of the company’s stock were exchanged. Virtu Financial has a 52 week low of $12.35 and a 52 week high of $19.07. The company has a market cap of $660.84 million, a price-to-earnings ratio of 24.25 and a beta of 0.39. The stock’s 50 day moving average is $16.98 and its 200 day moving average is $16.80.
Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data 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. The company had revenue of $77.10 million during the quarter, compared to analyst estimates of $82.23 million. Virtu Financial had a return on equity of 12.63% and a net margin of 14.31%. Virtu Financial’s revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts anticipate that Virtu Financial will post $0.72 earnings per share for the current year.
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In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek bought 6,346,155 shares of the stock in a transaction on Thursday, July 20th. The stock was acquired at an average cost of $15.60 per share, for a total transaction of $99,000,018.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 69.90% of the company’s stock.
A number of brokerages have weighed in on VIRT. BidaskClub downgraded Virtu Financial from a “sell” rating to a “strong sell” rating in a report on Saturday. Citigroup Inc. downgraded Virtu Financial from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $17.00 to $16.00 in a report on Wednesday, July 12th. Zacks Investment Research upgraded Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet upgraded Virtu Financial from a “d-” rating to a “c-” rating in a report on Friday, May 19th. Finally, UBS AG reiterated a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of Virtu Financial in a report on Monday, April 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.
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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