Virtu Financial, Inc. (VIRT) Research Coverage Started at Rosenblatt Securities
Rosenblatt Securities began coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a report published on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $18.00 price target on the financial services provider’s stock.
A number of other research analysts also recently commented on the company. BidaskClub raised Virtu Financial from a strong sell rating to a sell rating in a report on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $16.00 target price on shares of Virtu Financial in a report on Thursday, August 10th. Citigroup Inc. reaffirmed a sell rating and set a $14.00 target price (down previously from $16.00) on shares of Virtu Financial in a report on Thursday, August 10th. Zacks Investment Research raised Virtu Financial from a sell rating to a hold rating in a report on Wednesday, July 5th. Finally, TheStreet raised Virtu Financial from a d- rating to a c- rating in a report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Virtu Financial currently has a consensus rating of Hold and a consensus price target of $16.00.
Virtu Financial (NASDAQ VIRT) opened at 16.95 on Friday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 36.85 and a beta of 0.37. The firm’s 50-day moving average price is $16.97 and its 200 day moving average price is $16.61. Virtu Financial has a 52-week low of $12.35 and a 52-week high of $19.07.
Virtu Financial (NASDAQ:VIRT) last released its earnings results 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 for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s quarterly revenue was down 24.6% on a year-over-year basis. On average, equities research analysts forecast that Virtu Financial will post $0.66 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.66%. The ex-dividend date was Wednesday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is 188.24%.
In related news, major shareholder Holdings (Private) Ltd Temasek purchased 6,346,155 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were acquired at an average price of $15.60 per share, with a total value of $99,000,018.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder North Island Ventures, Llc purchased 338,124 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $15.44 per share, for a total transaction of $5,220,634.56. The disclosure for this purchase can be found here. Company insiders own 69.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Advisors Inc. OK lifted its holdings in shares of Virtu Financial by 8.7% in the 2nd quarter. Capital Advisors Inc. OK now owns 733,481 shares of the financial services provider’s stock worth $12,946,000 after purchasing an additional 58,422 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Virtu Financial by 40.1% in the 2nd quarter. Royce & Associates LP now owns 648,300 shares of the financial services provider’s stock worth $11,442,000 after purchasing an additional 185,500 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Virtu Financial by 506.5% in the 1st quarter. Russell Investments Group Ltd. now owns 25,018 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 20,893 shares during the last quarter. Van Berkom & Associates Inc. bought a new stake in shares of Virtu Financial in the 2nd quarter worth approximately $32,439,000. Finally, Teachers Advisors LLC lifted its holdings in shares of Virtu Financial by 37.1% in the 4th quarter. Teachers Advisors LLC now owns 55,003 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 14,876 shares during the last quarter. 46.67% of the stock is currently owned by institutional investors and hedge funds.
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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