Citigroup Increases Virtu Financial (NASDAQ:VIRT) Price Target to $37.00

Virtu Financial (NASDAQ:VIRT) had its price target upped by Citigroup from $32.00 to $37.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Piper Sandler boosted their price objective on Virtu Financial from $31.00 to $35.00 and gave the company an overweight rating in a research note on Tuesday, October 8th. The Goldman Sachs Group upped their target price on Virtu Financial from $26.00 to $29.00 and gave the stock a neutral rating in a research note on Monday, September 30th. UBS Group upped their target price on Virtu Financial from $18.00 to $24.00 and gave the stock a neutral rating in a research note on Monday, July 1st. Bank of America decreased their target price on Virtu Financial from $37.00 to $35.00 and set a buy rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded Virtu Financial from a sell rating to a hold rating in a research note on Wednesday, June 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $28.79.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $32.55 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $32.88. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.53 and a beta of 0.38. The business’s fifty day moving average is $30.66 and its 200 day moving average is $25.70.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The company had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. During the same period in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. Research analysts predict that Virtu Financial will post 2.57 EPS for the current year.

Virtu Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, August 30th. Virtu Financial’s payout ratio is currently 67.13%.

Insider Transactions at Virtu Financial

In other news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds and other institutional investors have recently modified their holdings of VIRT. First Horizon Advisors Inc. boosted its holdings in Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 372 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in Virtu Financial by 22.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 487 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Virtu Financial by 3.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 587 shares during the period. First Bank & Trust boosted its holdings in Virtu Financial by 3.9% during the 1st quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 734 shares during the period. Finally, Quarry LP boosted its holdings in Virtu Financial by 79.9% during the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 746 shares during the period. 45.78% of the stock is currently 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.