Virtu Financial, Inc. (NYSE:VIRT) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts remain constructive on Virtu Financial. The stock has a consensus rating of “Moderate Buy” from eight analysts, with an average 1-year price target of about $53.67.
• Recent earnings came in well above expectations. Virtu reported $2.24 EPS versus the $1.66 consensus, while revenue rose 30.7% year over year to $786.53 million.
• The company is rewarding shareholders with a dividend. Virtu paid a quarterly dividend of $0.24 per share, equal to a 1.5% annualized yield and a payout ratio of 15.89%.

Shares of Virtu Financial, Inc. (NYSE:VIRT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $53.6667.

Several equities research analysts have recently commented on VIRT shares. Piper Sandler boosted their target price on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Virtu Financial from $44.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded Virtu Financial from a "hold" rating to a "buy" rating in a research note on Sunday. The Goldman Sachs Group boosted their price objective on Virtu Financial from $51.00 to $63.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Finally, Zacks Research raised Virtu Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $65.83 on Monday. The firm has a market capitalization of $10.21 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.48 and a beta of 0.58. The firm has a fifty day simple moving average of $56.17 and a two-hundred day simple moving average of $46.15. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.92. Virtu Financial has a 12 month low of $31.55 and a 12 month high of $68.02.

Virtu Financial (NYSE:VIRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.58. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The firm had revenue of $786.53 million for the quarter, compared to the consensus estimate of $613.12 million. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business's revenue was up 30.7% on a year-over-year basis. Analysts forecast that Virtu Financial will post 5.7 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 1.5%. Virtu Financial's dividend payout ratio is 15.89%.

Insider Transactions at Virtu Financial

In related news, COO Brett Fairclough sold 30,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $50.06, for a total value of $1,501,800.00. Following the completion of the sale, the chief operating officer directly owned 42,473 shares of the company's stock, valued at approximately $2,126,198.38. This represents a 41.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 46.76% of the company's stock.

Hedge Funds Weigh In On Virtu Financial

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of Virtu Financial by 64.2% in the third quarter. Invesco Ltd. now owns 2,370,400 shares of the company's stock valued at $84,149,000 after purchasing an additional 926,376 shares during the last quarter. Millennium Management LLC boosted its holdings in Virtu Financial by 290.3% during the fourth quarter. Millennium Management LLC now owns 1,132,346 shares of the company's stock worth $37,730,000 after purchasing an additional 842,247 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Virtu Financial by 565.4% during the fourth quarter. Wellington Management Group LLP now owns 815,143 shares of the company's stock worth $27,161,000 after purchasing an additional 692,643 shares during the last quarter. Algebris UK Ltd. purchased a new position in Virtu Financial during the fourth quarter worth about $22,377,000. Finally, Allspring Global Investments Holdings LLC grew its position in Virtu Financial by 41.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,928,509 shares of the company's stock worth $85,607,000 after purchasing an additional 569,057 shares in the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

About Virtu Financial

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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