Research analysts at Rosenblatt Securities initiated coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a research note issued on Friday, September 15th, Marketbeat.com reports. The firm set a “neutral” rating and a $18.00 price target on the financial services provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 11.11% from the company’s current price.
VIRT has been the topic of a number of other research reports. BidaskClub lowered Virtu Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. TheStreet upgraded Virtu Financial from a “d-” rating to a “c-” rating in a report on Friday, May 19th. Zacks Investment Research raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Citigroup Inc. downgraded Virtu Financial from a “neutral” rating to a “sell” rating and cut their target price for the stock from $17.00 to $16.00 in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Virtu Financial in a research note on Thursday, August 10th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.00.
Virtu Financial (NASDAQ:VIRT) opened at 16.20 on Friday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 35.22 and a beta of 0.37. Virtu Financial has a one year low of $12.35 and a one year high of $19.07. The stock has a 50 day moving average of $16.98 and a 200-day moving average of $16.60.
Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Virtu Financial had a net margin of 3.42% and a return on equity of 16.54%. The business had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $82.23 million. During the same quarter last year, the business earned $0.24 EPS. The company’s quarterly revenue was down 24.6% on a year-over-year basis. On average, equities analysts predict that Virtu Financial will post $0.64 EPS for the current fiscal year.
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In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek bought 6,346,155 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder North Island Ventures, Llc bought 338,124 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $15.44 per share, with a total value of $5,220,634.56. The disclosure for this purchase can be found here. Company insiders own 69.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its position in Virtu Financial by 1,479.0% during the first quarter. Quantbot Technologies LP now owns 6,316 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,916 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Virtu Financial during the first quarter worth approximately $109,000. WBI Investments Inc. acquired a new position in Virtu Financial during the second quarter worth approximately $194,000. American International Group Inc. increased its holdings in shares of Virtu Financial by 7.1% in the first quarter. American International Group Inc. now owns 15,512 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,023 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Virtu Financial by 80.1% in the first quarter. US Bancorp DE now owns 16,312 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 7,256 shares during the period. 46.67% of the stock is currently owned by institutional investors.
About Virtu Financial
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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