Virtu Financial (NASDAQ:VIRT) PT Raised to $21.70

Virtu Financial (NASDAQ:VIRT) had its price target hoisted by equities researchers at The Goldman Sachs Group from $19.20 to $21.70 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 2.16% from the company’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler lifted their target price on Virtu Financial from $21.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Morgan Stanley upped their target price on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America upped their price objective on Virtu Financial from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup increased their target price on Virtu Financial from $22.50 to $24.50 and gave the stock a “buy” rating in a research report on Thursday. Finally, StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.24.

Virtu Financial Price Performance

NASDAQ:VIRT traded down $0.22 during trading hours on Friday, reaching $22.18. 473,453 shares of the company were exchanged, compared to its average volume of 1,080,509. The company has a market capitalization of $3.51 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.60 and a beta of 0.40. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $22.80. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.46 and a quick ratio of 0.46. The business has a 50 day moving average of $19.45 and a 200 day moving average of $18.82.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Virtu Financial had a net margin of 6.04% and a return on equity of 17.14%. The business had revenue of $535.98 million during the quarter, compared to the consensus estimate of $272.96 million. During the same quarter in the previous year, the business posted $0.32 EPS. Research analysts forecast that Virtu Financial will post 1.8 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Douglas A. Cifu bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $16.21 per share, with a total value of $810,500.00. Following the completion of the transaction, the chief executive officer now directly owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.80% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in Virtu Financial during the first quarter worth about $26,000. Quarry LP increased its position in shares of Virtu Financial by 79.9% in the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the last quarter. CWM LLC grew its position in shares of Virtu Financial by 112.3% in the 4th quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Virtu Financial by 48.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,574 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,161 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Virtu Financial by 1,867.8% during the 4th quarter. International Assets Investment Management LLC now owns 4,093 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 3,885 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Company Profile

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.