Citigroup Inc. Reaffirms Sell Rating for Virtu Financial, Inc. (VIRT)
Citigroup Inc. reissued their sell rating on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a report published on Thursday morning. The firm currently has a $14.00 price objective on the financial services provider’s stock, down from their prior price objective of $16.00.
Other equities analysts have also issued research reports about the stock. UBS AG reiterated a buy rating and issued a $19.00 price objective (up previously from $17.00) on shares of Virtu Financial in a report on Monday, April 24th. Zacks Investment Research lowered shares of Virtu Financial from a hold rating to a sell rating in a report on Wednesday, May 17th. BidaskClub lowered shares of Virtu Financial from a sell rating to a strong sell rating in a report on Saturday, August 5th. Finally, TheStreet upgraded shares of Virtu Financial from a d- rating to a c- rating in a research note on Friday, May 19th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $15.50.
Shares of Virtu Financial (NASDAQ VIRT) traded up 1.79% on Thursday, reaching $17.10. The company had a trading volume of 240,813 shares. The firm has a 50-day moving average price of $16.81 and a 200 day moving average price of $16.80. The firm has a market capitalization of $697.92 million, a price-to-earnings ratio of 37.17 and a beta of 0.39. Virtu Financial has a 1-year low of $12.35 and a 1-year high of $19.07.
Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.10. Virtu Financial had a return on equity of 16.54% and a net margin of 3.42%. The firm had revenue of $77.10 million during the quarter, compared to analyst estimates of $82.23 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. Equities research analysts predict that Virtu Financial will post $0.66 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.71%. Virtu Financial’s dividend payout ratio (DPR) is presently 188.24%.
In other Virtu Financial news, major shareholder North Island Ventures, Llc acquired 338,124 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $15.44 per share, for a total transaction of $5,220,634.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek acquired 6,346,155 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were acquired at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The disclosure for this purchase can be found here. 69.90% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in VIRT. Quantbot Technologies LP raised its stake in Virtu Financial by 1,479.0% in the first quarter. Quantbot Technologies LP now owns 6,316 shares of the financial services provider’s stock valued at $107,000 after buying an additional 5,916 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Virtu Financial during the first quarter valued at $109,000. First Bank & Trust raised its stake in Virtu Financial by 28.4% in the first quarter. First Bank & Trust now owns 8,967 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,983 shares during the period. WBI Investments Inc. acquired a new stake in Virtu Financial during the second quarter valued at $194,000. Finally, Eagle Ridge Investment Management acquired a new stake in Virtu Financial during the first quarter valued at $250,000. Hedge funds and other institutional investors own 44.32% of the company’s stock.
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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