Virtu Financial (NYSE:VIRT) Stock Price Up 4.8% Following Analyst Upgrade

Key Points

• Virtu shares rose 4.8% intraday after Piper Sandler raised its price target from $57 to $61 and maintained an overweight rating; the stock traded as high as $41.48 on volume about 70% below average.
• Strong quarterly beat: Virtu reported EPS of $1.85 vs. $1.12 expected and revenue of $969.9M vs. $513.5M expected, with ROE of 48.35% and revenue up 16.3% year-over-year.
• Notable insider selling: Executives sold a combined 270,000 shares (~$10.46M) in the past three months, though insiders still own 47.2% of the company.

Virtu Financial, Inc. (NYSE:VIRT - Get Free Report) shares shot up 4.8% during mid-day trading on Friday after Piper Sandler raised their price target on the stock from $57.00 to $61.00. Piper Sandler currently has an overweight rating on the stock. Virtu Financial traded as high as $41.48 and last traded at $41.4760. 348,890 shares changed hands during trading, a decline of 70% from the average session volume of 1,175,240 shares. The stock had previously closed at $39.58.

A number of other equities research analysts also recently issued reports on VIRT. The Goldman Sachs Group boosted their price target on shares of Virtu Financial from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. Morgan Stanley raised their price target on Virtu Financial from $35.00 to $36.00 and gave the stock an "underweight" rating in a research report on Thursday, January 22nd. Weiss Ratings raised Virtu Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Finally, Zacks Research downgraded Virtu Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.00.

Insider Buying and Selling

In other news, EVP Stephen Cavoli sold 28,370 shares of Virtu Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $38.94, for a total transaction of $1,104,727.80. Following the sale, the executive vice president owned 116,191 shares of the company's stock, valued at approximately $4,524,477.54. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph Molluso sold 200,000 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $38.88, for a total transaction of $7,776,000.00. Following the completion of the sale, the chief operating officer directly owned 326,585 shares of the company's stock, valued at $12,697,624.80. The trade was a 37.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 270,000 shares of company stock valued at $10,458,644 in the last three months. Corporate insiders own 47.20% of the company's stock.

Institutional Trading of Virtu Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC lifted its stake in shares of Virtu Financial by 3,460.0% in the third quarter. Rothschild Investment LLC now owns 712 shares of the company's stock valued at $25,000 after buying an additional 692 shares during the period. Assetmark Inc. boosted its position in Virtu Financial by 258.3% in the third quarter. Assetmark Inc. now owns 713 shares of the company's stock valued at $25,000 after buying an additional 514 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in Virtu Financial by 480.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company's stock worth $28,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Virtu Financial by 103.8% during the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $34,000 after purchasing an additional 387 shares during the last quarter. Finally, Neo Ivy Capital Management increased its position in Virtu Financial by 93.7% in the 3rd quarter. Neo Ivy Capital Management now owns 978 shares of the company's stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company's stock.

Virtu Financial Trading Up 4.4%

The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 1.39 and a beta of 0.61. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.03. The business's fifty day moving average is $38.84 and its two-hundred day moving average is $36.21.

Virtu Financial (NYSE:VIRT - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.73. The firm had revenue of $969.89 million during the quarter, compared to analyst estimates of $513.51 million. Virtu Financial had a return on equity of 48.35% and a net margin of 12.90%.The company's revenue was up 16.3% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Virtu Financial's dividend payout ratio is 18.71%.

Virtu Financial Company Profile

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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