Virtu Financial, Inc. (NASDAQ:VIRT) Receives $41.71 Average Price Target from Brokerages

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.7143.

A number of research firms have commented on VIRT. Bank of America upgraded shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, October 28th. The Goldman Sachs Group reduced their price target on shares of Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds have recently added to or reduced their stakes in VIRT. Invesco Ltd. raised its holdings in shares of Virtu Financial by 64.2% during the third quarter. Invesco Ltd. now owns 2,370,400 shares of the financial services provider’s stock worth $84,149,000 after purchasing an additional 926,376 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Virtu Financial during the 3rd quarter valued at about $19,102,000. Nuveen LLC bought a new stake in shares of Virtu Financial during the 1st quarter valued at about $18,956,000. Qube Research & Technologies Ltd raised its stake in Virtu Financial by 53.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,367,583 shares of the financial services provider’s stock worth $48,549,000 after acquiring an additional 474,177 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Virtu Financial by 50.9% in the first quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider’s stock worth $49,764,000 after acquiring an additional 445,586 shares during the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Price Performance

Shares of NASDAQ VIRT opened at $35.40 on Friday. Virtu Financial has a fifty-two week low of $31.89 and a fifty-two week high of $45.77. The business has a 50 day moving average price of $34.32 and a two-hundred day moving average price of $39.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a market cap of $5.41 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The company had revenue of $274.00 million for the quarter. Sell-side analysts expect that Virtu Financial will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, December 1st. Virtu Financial’s payout ratio is 20.78%.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.