Virtu Financial (NASDAQ: VIRT) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a report published on Tuesday, Zacks.com reports. They currently have a target price of $ 30.00 on the shares of the financial services provider. Zacks investment researchThe price target for s suggests a potential rise of 3.59% from the security’s previous close.
According to Zacks, “Virtu Financial stocks have outperformed their industry in a year. Its diversified business bodes well for the long term. While the market making segment benefited from KCG Holdings’ quantitative market making strategies, the non-client market making activity gained on the back of Marketing Making strategies launched in Europe. Its execution services segment benefited from the buyout of ITG, and higher commissions, workflow technology and analytics. A strong balance sheet allows the company to deploy capital through share buybacks and dividends. have been paying off debts for some time. However, it continues to face high operating costs which put pressure on the company’s margins. The markets, which have regained some stability, do not bode well for the company as this leads to a decline in trade Opportunities. “
A number of other equity research analysts have also recently published reports on the company. Rosenblatt Securities raised its price target on Virtu Financial from $ 32.00 to $ 35.00 and gave the stock a “buy” rating in a research note on Monday April 5. Piper Sandler raised her price target for Virtu Financial shares from $ 33.00 to $ 35 and gave the company an “overweight” rating in a research note on Thursday, April 8. Citigroup raised its price target on Virtu Financial shares from $ 29 to $ 32.50 in a research note on Tuesday, April 20. Finally, Morgan Stanley raised its price target on Virtu Financial shares from $ 25.00 to $ 26.00 and gave the company an “underweight” rating in a Wednesday March 31 research note. One research analyst rated the stock with a sell rating, four assigned a conservation rating, and two assigned a buy rating to the stock. Virtu Financial has a consensus rating of “Hold” and a consensus price target of $ 30.07.
VIRT traded up $ 0.10 in Tuesday’s session, reaching $ 28.96. The company had a trade volume of 24,450 shares, compared to its average volume of 1,572,081. The stock has a market capitalization of $ 5.50 billion, a P / E ratio of 5.50 and a beta of -0.28. The company has a leverage ratio of 0.80, a current ratio of 0.69, and a quick ratio of 0.69. Virtu Financial has a one-year minimum of $ 21.03 and a one-year maximum of $ 32.35. The stock has a 50-day moving average of $ 29.79.
Virtu Financial (NASDAQ: VIRT) last reported its results on Tuesday, May 4. The financial services provider reported earnings per share (EPS) of $ 2.04 for the quarter, beating the Zacks’ consensus estimate of $ 1.30 by $ 0.74. The company posted revenue of $ 728.03 million for the quarter, compared to analysts’ estimates of $ 482.85 million. Virtu Financial recorded a return on equity of 45.67% and a net margin of 20.53%. Virtu Financial’s revenue for the quarter was down 7.2% compared to the same quarter last year. In the same quarter of last year, the company achieved EPS of $ 2.05. Equity research analysts predict Virtu Financial will post earnings per share of 4.15 for the current year.
In other news, COO Brett Fairclough sold 125,000 shares of Virtu Financial in a trade on Thursday, May 13. The stock was sold at an average price of $ 28.85, for a total trade of $ 3,606,250.00. The transaction was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this link. Insiders own 63.70% of the shares of the company.
Hedge funds and other institutional investors have recently changed their positions in the company. Ameriprise Financial Inc. increased its stake in Virtu Financial by 151.1% during the first quarter. Ameriprise Financial Inc. now owns 2,990,096 shares of the financial services provider valued at $ 92,841,000 after purchasing an additional 1,799,064 shares in the last quarter. William Blair Investment Management LLC increased its equity stake in Virtu Financial by 15.7% during the 1st quarter. William Blair Investment Management LLC now owns 7,099,836 shares of the financial services provider valued at $ 220,450,000 after acquiring an additional 962,145 shares during the period. AQR Capital Management LLC strengthened its position in Virtu Financial shares by 100.4% during the 1st quarter. AQR Capital Management LLC now owns 1,753,790 shares of the financial services provider valued at $ 54,455,000 after acquiring an additional 878,675 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Virtu Financial by 380.3% in the first quarter. Los Angeles Capital Management LLC now owns 959,020 shares of the financial services provider valued at $ 29,778,000 after acquiring an additional 759,358 shares in the last quarter. Finally, Norges Bank acquired a new position in Virtu Financial during the fourth quarter valued at approximately $ 18,604,000. 56.90% of the shares are held by hedge funds and other institutional investors.
Virtu Financial Company Profile
Virtu Financial, Inc., a financial services company, provides execution services and data, analytics and connectivity products to clients around the world. Its product suite includes execution, liquidity research, analysis and neutral platform offerings for brokers and multi-traders in workflow technology. The company’s solutions allow clients to trade at a variety of venues across countries and across multiple asset classes, including global equities, ETFs, currencies, futures, fixed income and other raw materials.
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