Virtu Financial, Inc. (VIRT) Now Covered by Analysts at Rosenblatt Securities
Rosenblatt Securities started coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a report released on Friday. The brokerage issued a neutral rating on the financial services provider’s stock.
A number of other equities research analysts have also recently commented on VIRT. TheStreet upgraded shares of Virtu Financial from a d- rating to a c- rating in a research note on Friday, May 19th. Zacks Investment Research upgraded shares of Virtu Financial from a sell rating to a hold rating in a research note on Friday, June 9th. Citigroup Inc. cut shares of Virtu Financial from a neutral rating to a sell rating and decreased their target price for the stock from $17.00 to $16.00 in a research note on Wednesday, July 12th. BidaskClub cut shares of Virtu Financial from a hold rating to a sell rating in a research note on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $16.00 target price on shares of Virtu Financial in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $15.50.
Shares of Virtu Financial (NASDAQ VIRT) traded down 1.18% during trading on Friday, reaching $16.70. 1,347,180 shares of the company traded hands. Virtu Financial has a 52 week low of $12.35 and a 52 week high of $19.07. The company’s 50-day moving average price is $16.95 and its 200-day moving average price is $16.62. The company has a market capitalization of $1.45 billion, a P/E ratio of 36.30 and a beta of 0.37.
Virtu Financial (NASDAQ:VIRT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Virtu Financial had a return on equity of 16.54% and a net margin of 3.42%. The firm had revenue of $77.10 million for the quarter, compared to the consensus estimate of $82.23 million. During the same quarter in the previous year, the business posted $0.24 EPS. Virtu Financial’s revenue was down 24.6% on a year-over-year basis. Equities research analysts forecast that Virtu Financial will post $0.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Wednesday, August 30th. Virtu Financial’s payout ratio is currently 188.24%.
In related news, major shareholder Holdings (Private) Ltd Temasek acquired 6,346,155 shares of Virtu Financial stock in a transaction dated Thursday, July 20th. The shares were purchased at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder North Island Ventures, Llc acquired 338,124 shares of Virtu Financial stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $15.44 per share, for a total transaction of $5,220,634.56. The disclosure for this purchase can be found here. Company insiders own 69.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VIRT. Van Berkom & Associates Inc. bought a new stake in shares of Virtu Financial during the second quarter valued at approximately $32,439,000. Artisan Partners Limited Partnership bought a new stake in shares of Virtu Financial during the second quarter valued at approximately $19,224,000. Neuberger Berman Group LLC bought a new stake in shares of Virtu Financial during the first quarter valued at approximately $17,548,000. FMR LLC raised 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 valued at $39,097,000 after buying an additional 631,431 shares during the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Virtu Financial by 187.8% during the first quarter. Spark Investment Management LLC now owns 802,000 shares of the financial services provider’s stock valued at $13,634,000 after buying an additional 523,300 shares during the last quarter. Hedge funds and other institutional investors own 46.67% 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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