Credit Suisse Group AG Reiterates Underperform Rating for Virtu Financial Inc. (VIRT)
Virtu Financial Inc. (NASDAQ:VIRT)‘s stock had its “underperform” rating reiterated by Credit Suisse Group AG in a report released on Sunday. They presently have a $13.00 price objective on the stock. Credit Suisse Group AG’s target price suggests a potential downside of 5.80% from the stock’s current price.
Shares of Virtu Financial (NASDAQ:VIRT) opened at 13.80 on Friday. Virtu Financial has a 52-week low of $12.35 and a 52-week high of $23.97. The stock’s 50 day moving average is $13.76 and its 200 day moving average is $16.40. The stock has a market cap of $529.24 million, a price-to-earnings ratio of 15.77 and a beta of 0.10.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $92.99 million. Virtu Financial had a return on equity of 14.87% and a net margin of 4.78%. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities analysts predict that Virtu Financial will post $0.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 6.96%. Virtu Financial’s dividend payout ratio is currently 109.09%.
Institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC raised its position in shares of Virtu Financial by 5.5% in the second quarter. William Blair Investment Management LLC now owns 2,455,004 shares of the company’s stock valued at $44,190,000 after buying an additional 128,734 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Virtu Financial by 10.5% in the second quarter. Vanguard Group Inc. now owns 1,748,922 shares of the company’s stock valued at $31,481,000 after buying an additional 166,199 shares in the last quarter. FMR LLC raised its position in shares of Virtu Financial by 19.8% in the second quarter. FMR LLC now owns 1,661,800 shares of the company’s stock valued at $29,912,000 after buying an additional 274,600 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Virtu Financial by 2.3% in the second quarter. Ameriprise Financial Inc. now owns 1,475,450 shares of the company’s stock valued at $26,559,000 after buying an additional 32,740 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of Virtu Financial during the third quarter valued at approximately $14,529,000. Hedge funds and other institutional investors own 91.19% of the company’s stock.
About Virtu Financial
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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