Virtu Financial (NASDAQ:VIRT - Get Free Report) had its price objective increased by equities researchers at Morgan Stanley from $23.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price suggests a potential downside of 24.70% from the company's current price.
VIRT has been the topic of a number of other research reports. Citigroup raised their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Piper Sandler lifted their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, September 30th. UBS Group raised their price target on Virtu Financial from $18.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, July 1st. Finally, StockNews.com upgraded Virtu Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, June 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Virtu Financial presently has a consensus rating of "Hold" and an average price target of $29.50.
View Our Latest Research Report on VIRT
VIRT stock traded down $0.22 during midday trading on Thursday, hitting $33.20. The company's stock had a trading volume of 228,823 shares, compared to its average volume of 1,283,624. The firm's 50-day moving average is $30.98 and its 200-day moving average is $25.96. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $33.55. The company has a market cap of $5.22 billion, a PE ratio of 23.20, a P/E/G ratio of 0.54 and a beta of 0.38.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The firm had revenue of $385.10 million for the quarter, compared to the consensus estimate of $331.92 million. During the same period in the prior year, the company posted $0.29 earnings per share. The company's quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts forecast that Virtu Financial will post 2.57 earnings per share for the current fiscal year.
In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the sale, the director now directly owns 24,122 shares of the company's stock, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 46.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of VIRT. USA Financial Formulas purchased a new stake in Virtu Financial during the 3rd quarter valued at approximately $33,000. Riverview Trust Co purchased a new position in Virtu Financial during the first quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in Virtu Financial during the second quarter valued at $39,000. Innealta Capital LLC bought a new stake in Virtu Financial in the 2nd quarter valued at $46,000. Finally, First Horizon Advisors Inc. lifted its stake in Virtu Financial by 21.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider's stock worth $48,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 45.78% of the company's stock.
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.
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