Virtu Financial (NASDAQ:VIRT) Price Target Raised to $24.00

Virtu Financial (NASDAQ:VIRT) had its price target raised by equities research analysts at UBS Group from $18.00 to $24.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 5.77% from the company’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler increased their target price on Virtu Financial from $21.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Morgan Stanley increased their price target on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup increased their price target on Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.10.

Virtu Financial Trading Up 1.1 %

VIRT traded up $0.24 during mid-day trading on Monday, hitting $22.69. 48,781 shares of the stock were exchanged, compared to its average volume of 1,261,905. The firm’s fifty day moving average is $22.79 and its two-hundred day moving average is $20.41. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $25.68. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. The company has a market cap of $3.57 billion, a PE ratio of 15.87, a PEG ratio of 0.48 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. Virtu Financial had a return on equity of 17.33% and a net margin of 6.04%. The firm had revenue of $366.87 million for the quarter, compared to analyst estimates of $334.79 million. Equities analysts forecast that Virtu Financial will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its stake in Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after buying an additional 781 shares during the last quarter. Comerica Bank grew its stake in Virtu Financial by 244.7% during the 1st quarter. Comerica Bank now owns 12,401 shares of the financial services provider’s stock worth $254,000 after buying an additional 8,803 shares during the last quarter. Tidal Investments LLC grew its stake in Virtu Financial by 11.4% during the 1st quarter. Tidal Investments LLC now owns 73,229 shares of the financial services provider’s stock worth $1,503,000 after buying an additional 7,494 shares during the last quarter. Interval Partners LP purchased a new position in Virtu Financial during the 1st quarter worth approximately $5,050,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Virtu Financial by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,801 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 2,314 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

About Virtu Financial

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.