Virtu Financial (NYSE:VIRT - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $36.00 to $39.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Morgan Stanley's price target points to a potential downside of 21.39% from the stock's current price.
A number of other research analysts have also weighed in on the company. Zacks Research raised Virtu Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Weiss Ratings upgraded shares of Virtu Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. The Goldman Sachs Group upped their target price on Virtu Financial from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Finally, Piper Sandler lifted their target price on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Virtu Financial has an average rating of "Hold" and an average price target of $44.43.
Read Our Latest Report on Virtu Financial
Virtu Financial Stock Performance
Shares of VIRT stock opened at $49.61 on Friday. Virtu Financial has a 12-month low of $31.55 and a 12-month high of $49.73. The business's fifty day simple moving average is $41.39 and its 200-day simple moving average is $36.94. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.03. The company has a market cap of $7.67 billion, a PE ratio of 9.67, a PEG ratio of 4.17 and a beta of 0.54.
Virtu Financial (NYSE:VIRT - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.73. Virtu Financial had a return on equity of 48.35% and a net margin of 12.90%.The company had revenue of $969.89 million during the quarter, compared to analysts' expectations of $513.51 million. During the same period last year, the business posted $1.14 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year.
Insiders Place Their Bets
In other news, COO Joseph Molluso sold 200,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $38.88, for a total value of $7,776,000.00. Following the sale, the chief operating officer directly owned 326,585 shares in the company, valued at approximately $12,697,624.80. This trade represents a 37.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Cavoli sold 28,370 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $38.94, for a total value of $1,104,727.80. Following the completion of the sale, the executive vice president directly owned 116,191 shares in the company, valued at $4,524,477.54. This represents a 19.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 270,000 shares of company stock worth $10,458,644 in the last ninety days. Corporate insiders own 47.20% of the company's stock.
Institutional Trading of Virtu Financial
A number of institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of Virtu Financial by 1,624.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the company's stock valued at $38,000 after acquiring an additional 942 shares during the last quarter. United Services Automobile Association acquired a new position in Virtu Financial in the first quarter valued at approximately $222,000. Empowered Funds LLC purchased a new position in Virtu Financial in the first quarter valued at approximately $1,934,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 company's stock valued at $8,624,000 after purchasing an additional 26,743 shares during the last quarter. Finally, Creative Planning acquired a new stake in Virtu Financial during the second quarter worth approximately $235,000. 45.78% of the stock is owned by hedge funds and other institutional investors.
Virtu Financial News Summary
Here are the key news stories impacting Virtu Financial this week:
About Virtu Financial
(
Get Free Report)
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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