The Goldman Sachs Group Lowers Virtu Financial (NASDAQ:VIRT) Price Target to $38.00

Key Points

• The Goldman Sachs Group has lowered Virtu Financial's price target from $48.00 to $38.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 16.23% from its current price.
• Other analysts have also reissued ratings on Virtu Financial, with UBS Group setting a price target of $45.00 and Morgan Stanley raising theirs to $35.00.
• Virtu Financial's stock traded down to $32.70, with a market capitalization of $5.00 billion and a twelve-month high of $45.77.

Virtu Financial (NASDAQ:VIRT - Get Free Report) had its target price reduced by research analysts at The Goldman Sachs Group from $48.00 to $38.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's target price suggests a potential upside of 16.23% from the company's current price.

A number of other research analysts have also weighed in on VIRT. UBS Group reissued a "neutral" rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Morgan Stanley raised their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. Finally, Piper Sandler upped their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $40.88.

Virtu Financial Stock Performance

VIRT stock traded down $0.95 during midday trading on Monday, hitting $32.70. 380,181 shares of the company traded hands, compared to its average volume of 973,344. Virtu Financial has a twelve month low of $29.82 and a twelve month high of $45.77. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The business has a 50 day simple moving average of $39.63 and a 200-day simple moving average of $40.39.

Insider Transactions at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $42.40, for a total value of $3,845,722.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 47.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VIRT. Bessemer Group Inc. increased its holdings in shares of Virtu Financial by 96.0% in the second quarter. Bessemer Group Inc. now owns 582 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 285 shares during the last quarter. Brooklyn Investment Group raised its holdings in Virtu Financial by 243.0% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 554 shares during the period. EverSource Wealth Advisors LLC lifted its position in Virtu Financial by 103.8% during the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the financial services provider's stock worth $34,000 after acquiring an additional 387 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock worth $38,000 after acquiring an additional 942 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Virtu Financial in the first quarter valued at approximately $54,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Company Profile

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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