Virtu Financial (NASDAQ:VIRT) Hits New 12-Month High - Here's What Happened

Shares of Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $45.16 and last traded at $45.16, with a volume of 120719 shares changing hands. The stock had previously closed at $43.96.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley boosted their price objective on shares of Virtu Financial from $26.00 to $28.00 and gave the stock an "underweight" rating in a report on Thursday, April 24th. UBS Group restated a "neutral" rating and issued a $40.00 price objective (up from $38.00) on shares of Virtu Financial in a report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $37.25.

Virtu Financial Price Performance

The company has a market cap of $6.91 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.14 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. The firm's fifty day moving average is $42.17 and its two-hundred day moving average is $38.96.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $0.99 by $0.31. The business had revenue of $497.14 million for the quarter, compared to analysts' expectations of $444.23 million. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, analysts anticipate that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, May 30th. Virtu Financial's dividend payout ratio is 27.75%.

Insider Transactions at Virtu Financial

In related news, CEO Douglas A. Cifu sold 177,561 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $38.88, for a total value of $6,903,571.68. Following the sale, the chief executive officer directly owned 231,306 shares of the company's stock, valued at $8,993,177.28. This represents a 43.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Nixon sold 6,965 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total transaction of $298,241.30. Following the transaction, the director directly owned 33,923 shares in the company, valued at approximately $1,452,582.86. This trade represents a 17.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 362,846 shares of company stock worth $14,079,615 over the last three months. 47.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Virtu Financial

Institutional investors have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC acquired a new stake in Virtu Financial in the second quarter valued at approximately $417,000. AdvisorNet Financial Inc raised its holdings in shares of Virtu Financial by 89.7% during the second quarter. AdvisorNet Financial Inc now owns 1,368 shares of the financial services provider's stock worth $61,000 after purchasing an additional 647 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Virtu Financial by 10.8% during the second quarter. GAMMA Investing LLC now owns 7,562 shares of the financial services provider's stock worth $339,000 after purchasing an additional 738 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Virtu Financial by 13.2% during the second quarter. Park Avenue Securities LLC now owns 6,468 shares of the financial services provider's stock worth $290,000 after purchasing an additional 755 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Virtu Financial by 410.6% in the second quarter. Farther Finance Advisors LLC now owns 1,297 shares of the financial services provider's stock valued at $58,000 after buying an additional 1,043 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 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.