Virtu Financial (VIRT) Downgraded by BidaskClub

Virtu Financial (NASDAQ:VIRT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

VIRT has been the subject of several other reports. Morgan Stanley began coverage on Virtu Financial in a research note on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 target price for the company. ValuEngine upgraded Virtu Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Compass Point began coverage on Virtu Financial in a research note on Wednesday, September 19th. They set a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research cut Virtu Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Finally, Citigroup restated a “hold” rating on shares of Virtu Financial in a research note on Friday, October 5th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.64.

NASDAQ VIRT opened at $25.17 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.60 and a quick ratio of 0.60. Virtu Financial has a fifty-two week low of $15.25 and a fifty-two week high of $37.85. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 3.57 and a beta of -0.95.

Virtu Financial (NASDAQ:VIRT) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. Virtu Financial had a return on equity of 19.85% and a net margin of 12.32%. The firm had revenue of $177.92 million during the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that Virtu Financial will post 1.41 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Virtu Financial by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,399,422 shares of the financial services provider’s stock valued at $130,869,000 after acquiring an additional 201,144 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Virtu Financial by 15.0% in the 3rd quarter. Teachers Advisors LLC now owns 53,691 shares of the financial services provider’s stock valued at $1,098,000 after acquiring an additional 6,990 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Virtu Financial in the 3rd quarter valued at $2,050,000. Point72 Asset Management L.P. bought a new position in shares of Virtu Financial in the 3rd quarter valued at $5,460,000. Finally, Highbridge Capital Management LLC lifted its stake in shares of Virtu Financial by 27.6% in the 3rd quarter. Highbridge Capital Management LLC now owns 448,000 shares of the financial services provider’s stock valued at $9,162,000 after acquiring an additional 97,000 shares during the last quarter. Institutional investors own 56.65% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc engages in the business of buying and selling of securities and other financial instruments. It offers market making and trading solutions. The company was founded by Vincent Viola in 2008 and is headquartered in New York, NY.

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