Virtu Financial (NASDAQ:VIRT) Stock Price Down 3.5%

Virtu Financial, Inc. (NASDAQ:VIRT) shares dropped 3.5% on Thursday . The company traded as low as $29.18 and last traded at $29.26. Approximately 302,884 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,290,691 shares. The stock had previously closed at $30.32.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VIRT. JPMorgan Chase & Co. upped their target price on Virtu Financial from $20.00 to $21.50 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Bank of America lifted their price objective on shares of Virtu Financial from $25.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Citigroup raised their target price on Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group upped their price target on Virtu Financial from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.36.

Virtu Financial Trading Down 4.0 %

The business has a 50-day moving average of $25.07 and a two-hundred day moving average of $21.84. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.49 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.60 by $0.23. The firm had revenue of $385.10 million during the quarter, compared to analysts’ expectations of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. Virtu Financial’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. Research analysts predict that Virtu Financial, Inc. will post 2.29 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.30%. Virtu Financial’s payout ratio is presently 67.13%.

Insider Buying and Selling

In related news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the transaction, the director now owns 24,122 shares in the company, valued at approximately $658,530.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 46.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Virtu Financial during the first quarter worth approximately $26,000. Quarry LP raised its stake in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after buying an additional 746 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Virtu Financial during the second quarter worth approximately $39,000. CWM LLC raised its stake in shares of Virtu Financial by 112.3% during the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,127 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after buying an additional 781 shares during the last quarter. 45.78% of the stock is currently owned by institutional investors.

Virtu Financial Company Profile

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.