Virtu Financial (NASDAQ:VIRT – Free Report) had its price objective boosted by The Goldman Sachs Group from $26.00 to $29.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.
A number of other equities research analysts have also recently weighed in on VIRT. Citigroup boosted their price target on shares of Virtu Financial from $26.00 to $32.00 and gave the company a buy rating in a research report on Friday, July 19th. UBS Group lifted their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the company a neutral rating in a research note on Monday, July 1st. StockNews.com upgraded shares of Virtu Financial from a sell rating to a hold rating in a research note on Wednesday, June 19th. Bank of America lifted their price objective on shares of Virtu Financial from $25.00 to $37.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Piper Sandler lifted their price objective on shares of Virtu Financial from $25.00 to $31.00 and gave the company an overweight rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $27.50.
Virtu Financial Price Performance
Virtu Financial (NASDAQ:VIRT – Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $331.92 million. During the same period in the previous year, the company earned $0.29 earnings per share. Virtu Financial’s quarterly revenue was up 38.2% compared to the same quarter last year. Equities analysts expect that Virtu Financial will post 2.47 EPS for the current fiscal year.
Virtu Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a dividend of $0.24 per share. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.
Insider Transactions at Virtu Financial
In other news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction dated 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 in the company, valued at $658,530.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 46.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its position 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 worth $48,000 after buying an additional 372 shares during the period. Abich Financial Wealth Management LLC grew 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 worth $60,000 after buying an additional 487 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Virtu Financial by 3.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock worth $436,000 after buying an additional 587 shares during the period. First Bank & Trust grew its position in Virtu Financial by 3.9% during the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock worth $402,000 after buying an additional 734 shares during the period. Finally, Quarry LP grew its position in Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after buying an additional 746 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.
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.
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