Virtu Financial, Inc. (NASDAQ:VIRT) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,920,000 shares, an increase of 26.9% from the September 15th total of 3,090,000 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 4.0% of the company's stock are short sold.
VIRT stock opened at $23.23 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.82. Virtu Financial has a 52-week low of $14.94 and a 52-week high of $28.59. The company has a 50-day moving average of $24.91 and a two-hundred day moving average of $24.07. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 7.28 and a beta of -0.39.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Friday, August 7th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.57 by $0.16. Virtu Financial had a net margin of 14.76% and a return on equity of 48.31%. The company had revenue of $905.90 million during the quarter, compared to analysts' expectations of $649.12 million. During the same period in the prior year, the company earned $0.16 earnings per share. The business's quarterly revenue was up 141.5% compared to the same quarter last year. Equities analysts expect that Virtu Financial will post 5.32 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on VIRT shares. UBS Group dropped their price target on shares of Virtu Financial from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Zacks Investment Research downgraded shares of Virtu Financial from a "hold" rating to a "sell" rating and set a $24.00 price target on the stock. in a research note on Friday, October 9th. Piper Sandler dropped their price target on shares of Virtu Financial from $31.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 23rd. Morgan Stanley dropped their price target on shares of Virtu Financial from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Finally, Citigroup dropped their price target on shares of Virtu Financial from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. The company currently has an average rating of "Hold" and a consensus target price of $25.23.
In other news, CEO Douglas A. Cifu bought 100,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $22.45 per share, with a total value of $2,245,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 58.50% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Bowling Portfolio Management LLC bought a new stake in Virtu Financial during the third quarter valued at about $898,000. Beaumont Asset Management L.L.C. boosted its holdings in Virtu Financial by 73.1% during the third quarter. Beaumont Asset Management L.L.C. now owns 16,677 shares of the financial services provider's stock valued at $383,000 after acquiring an additional 7,044 shares during the period. National Investment Services of America LLC boosted its holdings in Virtu Financial by 99.5% during the third quarter. National Investment Services of America LLC now owns 131,471 shares of the financial services provider's stock valued at $3,025,000 after acquiring an additional 65,567 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Virtu Financial by 2.9% during the third quarter. Envestnet Asset Management Inc. now owns 21,352 shares of the financial services provider's stock valued at $491,000 after acquiring an additional 608 shares during the period. Finally, USA Financial Portformulas Corp bought a new stake in shares of Virtu Financial in the third quarter valued at about $425,000. Institutional investors own 60.34% of the company's stock.
Virtu Financial Company Profile
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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