UBS Group Increases Virtu Financial (NASDAQ:VIRT) Price Target to $24.00

Virtu Financial (NASDAQ:VIRT) had its price target increased by UBS Group from $18.00 to $24.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price suggests a potential upside of 8.30% from the company’s current price.

A number of other equities research analysts have also recently commented on VIRT. Morgan Stanley increased their target price on Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler increased their target price on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup increased their target price on Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group increased their price target on Virtu Financial from $19.20 to $21.70 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Bank of America increased their price target on Virtu Financial from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.10.

Virtu Financial Stock Performance

VIRT opened at $22.16 on Monday. The stock has a market cap of $3.48 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.48 and a beta of 0.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.45 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $22.84 and its 200 day simple moving average is $20.43. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $25.68.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VIRT. Envestnet Portfolio Solutions Inc. purchased a new position in Virtu Financial in the third quarter valued at about $195,000. Envestnet Asset Management Inc. grew its stake in shares of Virtu Financial by 23.7% during the third quarter. Envestnet Asset Management Inc. now owns 504,739 shares of the financial services provider’s stock valued at $8,717,000 after acquiring an additional 96,772 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Virtu Financial by 15.1% during the third quarter. Stifel Financial Corp now owns 125,297 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 16,416 shares in the last quarter. Trexquant Investment LP grew its stake in shares of Virtu Financial by 285.1% during the third quarter. Trexquant Investment LP now owns 85,540 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 63,325 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Virtu Financial during the third quarter valued at about $2,294,000. 45.78% of the stock is owned by hedge funds and other institutional investors.

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.