Virtu Financial (NASDAQ:VIRT) Given New $25.00 Price Target at Morgan Stanley

by · The Cerbat Gem

Virtu Financial (NASDAQ:VIRT – Free Report) had its target price raised by Morgan Stanley from $23.00 to $25.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the company. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Bank of America dropped their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler raised their price objective on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, UBS Group increased their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and an average target price of $29.50.

Read Our Latest Stock Analysis on Virtu Financial

Virtu Financial Price Performance

Shares of VIRT opened at $32.84 on Thursday. The business has a 50-day moving average of $31.08 and a 200-day moving average of $26.01. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 0.54 and a beta of 0.38. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $33.55.

Virtu Financial (NASDAQ:VIRT – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The firm had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. During the same quarter last year, the business earned $0.29 EPS. The company’s revenue was up 38.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Virtu Financial will post 2.57 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.

Insiders Place Their Bets

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at $658,530.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 46.70% of the company’s stock.

Institutional Trading of Virtu Financial

Several hedge funds have recently added to or reduced their stakes in VIRT. First Horizon Advisors Inc. grew its stake in Virtu Financial by 21.0% during the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 372 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in Virtu Financial by 22.2% during the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 487 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Virtu Financial by 3.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 587 shares in the last quarter. First Bank & Trust boosted its holdings in shares of Virtu Financial by 3.9% in the 1st quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 734 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Virtu Financial during the 3rd quarter valued at about $33,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Company Profile

(Get Free Report)

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.

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