Virtu Financial (VIRT) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Virtu Financial (NASDAQ:VIRT) from an underweight rating to a neutral rating in a report issued on Tuesday morning, reports. The brokerage currently has $20.00 price target on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Sandler O’Neill set a $19.00 price target on Virtu Financial and gave the company a buy rating in a research note on Tuesday, November 7th. TheStreet raised Virtu Financial from a d+ rating to a c- rating in a research note on Thursday, December 7th. Zacks Investment Research raised Virtu Financial from a strong sell rating to a hold rating in a research note on Saturday, January 20th. BidaskClub raised Virtu Financial from a sell rating to a hold rating in a research note on Saturday, December 2nd. Finally, Evercore ISI raised their target price on Virtu Financial from $17.00 to $18.00 and gave the stock an in-line rating in a research note on Tuesday, November 7th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Virtu Financial has an average rating of Hold and an average price target of $18.38.

Shares of Virtu Financial (NASDAQ:VIRT) opened at $27.95 on Tuesday. The firm has a market capitalization of $3,753.56, a PE ratio of 174.70 and a beta of 0.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.63 and a quick ratio of 0.63. Virtu Financial has a one year low of $13.10 and a one year high of $28.90.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.10. The company had revenue of $460.42 million during the quarter, compared to analysts’ expectations of $194.80 million. Virtu Financial had a return on equity of 11.56% and a net margin of 0.13%. During the same quarter in the prior year, the firm posted $0.24 earnings per share. sell-side analysts expect that Virtu Financial will post 0.41 EPS for the current year.

Virtu Financial announced that its board has approved a stock repurchase program on Thursday, February 8th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.96 annualized dividend and a yield of 3.43%. Virtu Financial’s dividend payout ratio is currently 600.04%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Virtu Financial in the third quarter valued at approximately $104,000. Ffcm LLC acquired a new stake in Virtu Financial in the third quarter valued at approximately $116,000. Penserra Capital Management LLC grew its stake in Virtu Financial by 73.2% in the fourth quarter. Penserra Capital Management LLC now owns 9,415 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 3,979 shares during the period. Stevens Capital Management LP acquired a new stake in Virtu Financial in the third quarter valued at approximately $179,000. Finally, Sheets Smith Wealth Management acquired a new stake in Virtu Financial in the fourth quarter valued at approximately $272,000. 26.78% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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