Virtu Financial (NASDAQ:VIRT) Hits New 1-Year High at $29.84

Virtu Financial, Inc. (NASDAQ:VIRT) reached a new 52-week high during trading on Wednesday . The company traded as high as $29.84 and last traded at $29.76, with a volume of 34083 shares. The stock had previously closed at $29.29.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VIRT. JPMorgan Chase & Co. increased their price objective on Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a research report on Thursday, April 25th. UBS Group raised their price objective on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. The Goldman Sachs Group lifted their target price on Virtu Financial from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Piper Sandler lifted their price objective on Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Virtu Financial presently has a consensus rating of “Hold” and a consensus price target of $27.36.

Virtu Financial Trading Up 2.5 %

The stock has a fifty day moving average of $24.91 and a 200-day moving average of $21.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $4.68 billion, a PE ratio of 20.48, a PEG ratio of 0.49 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.60 by $0.23. The firm had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. Sell-side analysts anticipate that Virtu Financial, Inc. will post 2.29 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.20%. Virtu Financial’s payout ratio is 67.13%.

Insider Transactions at Virtu Financial

In other news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds have recently bought and sold shares of VIRT. Riverview Trust Co acquired a new position in shares of Virtu Financial during the first quarter valued at approximately $26,000. Quarry LP grew its stake in shares of Virtu Financial by 79.9% in the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after buying an additional 746 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial in the second quarter valued at $39,000. Innealta Capital LLC acquired a new stake in shares of Virtu Financial in the second quarter valued at $46,000. Finally, CWM LLC grew its stake in Virtu Financial by 112.3% during the 4th quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,127 shares in the last quarter. Hedge funds and other 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.