Virtu Financial (NASDAQ:VIRT) Price Target Raised to $37.00 at Citigroup

Virtu Financial (NASDAQ:VIRT) had its price target lifted by research analysts at Citigroup from $32.00 to $37.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 16.43% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Bank of America reduced their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. UBS Group boosted their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. The Goldman Sachs Group increased their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Piper Sandler upped their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Five 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.com, Virtu Financial presently has an average rating of “Hold” and a consensus price target of $28.79.

Virtu Financial Price Performance

NASDAQ:VIRT traded down $0.30 during mid-day trading on Wednesday, reaching $31.78. The stock had a trading volume of 819,464 shares, compared to its average volume of 1,300,086. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $32.88. The stock has a market capitalization of $5.00 billion, a PE ratio of 22.22, a P/E/G ratio of 0.54 and a beta of 0.38. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a 50-day simple moving average of $30.37 and a two-hundred day simple moving average of $25.48.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The company had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities analysts anticipate that Virtu Financial will post 2.47 earnings per share for the current year.

Insider Activity

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the sale, the director now owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 46.70% of the company’s stock.

Institutional Trading of Virtu Financial

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in Virtu Financial during the 2nd quarter worth approximately $9,751,000. Bank of New York Mellon Corp increased its holdings in shares of Virtu Financial by 39.2% during the second quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after acquiring an additional 342,327 shares in the last quarter. Interval Partners LP acquired a new position in shares of Virtu Financial during the first quarter worth approximately $5,050,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Virtu Financial in the 1st quarter worth $4,349,000. Finally, Public Sector Pension Investment Board acquired a new stake in Virtu Financial in the 2nd quarter valued at $4,371,000. Institutional investors own 45.78% of the company’s stock.

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.