Virtu Financial (NASDAQ:VIRT - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.64, Briefing.com reports. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business had revenue of $999.57 million for the quarter, compared to analyst estimates of $481.90 million. During the same quarter in the prior year, the business earned $0.83 EPS.
Virtu Financial Stock Down 1.9%
Shares of Virtu Financial stock traded down $0.84 during trading hours on Friday, reaching $43.30. The company's stock had a trading volume of 847,355 shares, compared to its average volume of 957,268. Virtu Financial has a one year low of $26.50 and a one year high of $45.77. The company has a market capitalization of $6.68 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.14 and a beta of 0.70. The stock's fifty day simple moving average is $42.82 and its two-hundred day simple moving average is $39.79. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49.
Virtu Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. Virtu Financial's dividend payout ratio (DPR) is 21.82%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Piper Sandler increased their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Evercore ISI raised their price target on shares of Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Finally, Bank of America cut shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.13.
View Our Latest Analysis on Virtu Financial
Insider Buying and Selling at Virtu Financial
In other Virtu Financial news, Director John Nixon sold 6,965 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total value of $298,241.30. Following the transaction, the director directly owned 33,923 shares of the company's stock, valued at approximately $1,452,582.86. This trade represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 47.20% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Virtu Financial by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,233 shares of the financial services provider's stock valued at $8,624,000 after buying an additional 26,743 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Virtu Financial in the first quarter valued at $1,934,000. United Services Automobile Association bought a new position in shares of Virtu Financial in the first quarter valued at $222,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Virtu Financial by 1,624.1% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock valued at $38,000 after buying an additional 942 shares in the last quarter. 45.78% of the stock is owned by institutional investors.
About Virtu Financial
(
Get Free Report)
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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