Brokerages Set Virtu Financial, Inc. (NASDAQ:VIRT) Target Price at $31.36

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.36.

A number of research analysts recently commented on VIRT shares. Piper Sandler raised their price target on Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their target price on shares of Virtu Financial from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th.

Insider Buying and Selling

In related news, EVP Stephen Cavoli sold 34,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $36.88, for a total transaction of $1,253,920.00. Following the sale, the executive vice president now owns 191,703 shares in the company, valued at $7,070,006.64. The trade was a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brett Fairclough sold 72,967 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total value of $2,688,104.28. Following the completion of the transaction, the chief operating officer now owns 90,749 shares of the company’s stock, valued at $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,967 shares of company stock worth $5,213,964 in the last three months. 46.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Virtu Financial

Several hedge funds have recently added to or reduced their stakes in VIRT. Cerity Partners LLC raised its position in Virtu Financial by 9.1% during the 3rd quarter. Cerity Partners LLC now owns 14,434 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 1,200 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Virtu Financial by 65.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 54,497 shares of the financial services provider’s stock valued at $1,660,000 after buying an additional 21,577 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Virtu Financial by 507.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 11,526 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 9,628 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Virtu Financial by 158.2% in the third quarter. Private Trust Co. NA now owns 5,856 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 3,588 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Virtu Financial by 734.9% in the third quarter. Bank of Montreal Can now owns 93,743 shares of the financial services provider’s stock worth $2,902,000 after acquiring an additional 82,515 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $37.71 on Tuesday. Virtu Financial has a 12-month low of $20.15 and a 12-month high of $41.38. The company’s 50 day moving average price is $37.43 and its two-hundred day moving average price is $35.28. The firm has a market cap of $5.84 billion, a PE ratio of 12.70, a PEG ratio of 1.43 and a beta of 0.57. The company has a quick ratio of 0.46, a current ratio of 1.13 and a debt-to-equity ratio of 1.17.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Wednesday, January 29th. 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 27.39% and a net margin of 9.61%. Equities research analysts predict that Virtu Financial will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Friday, February 28th. Virtu Financial’s dividend payout ratio (DPR) is presently 32.32%.

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.