Citigroup Inc. downgraded shares of Virtu Financial, Inc. (NASDAQ:VIRT) from a neutral rating to a sell rating in a research note issued to investors on Wednesday, July 12th, Marketbeat Ratings reports. The firm currently has $16.00 target price on the financial services provider’s stock, down from their previous target price of $17.00.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Virtu Financial from a sell rating to a hold rating in a research note on Wednesday, July 5th. TheStreet upgraded Virtu Financial from a d- rating to a c- rating in a research note on Friday, May 19th. Finally, UBS AG restated a buy rating and set a $19.00 price target (up previously from $17.00) on shares of Virtu Financial in a research note on Monday, April 24th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Virtu Financial currently has a consensus rating of Hold and an average target price of $16.00.
Shares of Virtu Financial (VIRT) traded down 3.73% on Wednesday, hitting $15.50. 1,968,841 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $16.98 and its 200 day moving average is $16.80. Virtu Financial has a 12 month low of $12.35 and a 12 month high of $19.07. The firm has a market cap of $630.34 million, a P/E ratio of 23.13 and a beta of 0.39.
Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.07. The firm had revenue of $77.10 million during the quarter, compared to the consensus estimate of $82.23 million. Virtu Financial had a net margin of 4.41% and a return on equity of 20.72%. The business’s revenue was down 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts predict that Virtu Financial will post $0.72 earnings per share for the current year.
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In related news, major shareholder Holdings (Private) Ltd Temasek purchased 6,346,155 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was bought at an average cost of $15.60 per share, with a total value of $99,000,018.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 69.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van Berkom & Associates Inc. acquired a new stake in shares of Virtu Financial during the second quarter worth $32,439,000. Neuberger Berman Group LLC acquired a new stake in shares of Virtu Financial during the first quarter worth $17,548,000. Hodges Capital Management Inc. acquired a new stake in shares of Virtu Financial during the first quarter worth $12,688,000. Capital Advisors Inc. OK acquired a new stake in shares of Virtu Financial during the first quarter worth $11,476,000. Finally, FMR LLC raised its stake in shares of Virtu Financial by 48.5% in the fourth quarter. FMR LLC now owns 1,875,035 shares of the financial services provider’s stock worth $29,906,000 after buying an additional 612,189 shares during the last quarter. 43.88% of the stock is owned by institutional investors and hedge funds.
Virtu Financial Company Profile
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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