Virtu Financial (NASDAQ:VIRT) Sets New 52-Week High on Strong Earnings

Virtu Financial, Inc. (NASDAQ:VIRT) shares reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $40.29 and last traded at $39.28, with a volume of 22186 shares. The stock had previously closed at $38.93.

The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, November 29th. Virtu Financial’s payout ratio is 48.24%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America lowered their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Piper Sandler raised their price objective on Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup raised their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Virtu Financial during the fourth quarter worth about $25,000. USA Financial Formulas acquired a new position in shares of Virtu Financial during the third quarter worth about $33,000. Albion Financial Group UT acquired a new position in shares of Virtu Financial during the fourth quarter worth about $45,000. GAMMA Investing LLC lifted its stake in shares of Virtu Financial by 149.0% during the third quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Virtu Financial by 13.0% during the fourth quarter. Blue Trust Inc. now owns 2,794 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Stock Performance

The stock has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $32.90. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.49 and a beta of 0.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23.

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.