Stock analysts at Rosenblatt Securities started coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a note issued to investors on Friday, September 15th, Marketbeat reports. The firm set a “neutral” rating and a $18.00 price target on the financial services provider’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 11.11% from the company’s previous close.
VIRT has been the subject of a number of other research reports. TheStreet raised shares of Virtu Financial from a “d-” rating to a “c-” rating in a research report on Friday, May 19th. Zacks Investment Research raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Citigroup Inc. downgraded shares of Virtu Financial from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $17.00 to $16.00 in a research report on Wednesday, July 12th. BidaskClub cut Virtu Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $16.00 price objective on shares of Virtu Financial in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Virtu Financial presently has a consensus rating of “Hold” and a consensus target price of $16.00.
Virtu Financial (NASDAQ:VIRT) opened at 16.20 on Friday. Virtu Financial has a 52 week low of $12.35 and a 52 week high of $19.07. The company has a market cap of $1.41 billion, a P/E ratio of 35.22 and a beta of 0.37. The firm’s 50 day moving average is $16.98 and its 200-day moving average is $16.60.
Virtu Financial (NASDAQ:VIRT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.10). The firm had revenue of $77.10 million during the quarter, compared to analysts’ expectations of $82.23 million. Virtu Financial had a net margin of 3.42% and a return on equity of 16.54%. Virtu Financial’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. On average, analysts predict that Virtu Financial will post $0.64 earnings per share for the current fiscal year.
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In other Virtu Financial news, major shareholder North Island Ventures, Llc acquired 338,124 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $15.44 per share, for a total transaction of $5,220,634.56. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek acquired 6,346,155 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were acquired at an average price of $15.60 per share, with a total value of $99,000,018.00. The disclosure for this purchase can be found here. 69.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in VIRT. Van Berkom & Associates Inc. acquired a new stake in Virtu Financial during the 2nd quarter worth about $32,439,000. Artisan Partners Limited Partnership acquired a new stake in Virtu Financial during the 2nd quarter worth about $19,224,000. Neuberger Berman Group LLC acquired a new stake in shares of Virtu Financial during the 1st quarter valued at about $17,548,000. FMR LLC lifted its holdings in shares of Virtu Financial by 39.9% during the 2nd quarter. FMR LLC now owns 2,215,100 shares of the financial services provider’s stock valued at $39,097,000 after buying an additional 631,431 shares during the last quarter. Finally, Spark Investment Management LLC lifted its holdings in shares of Virtu Financial by 187.8% during the 1st quarter. Spark Investment Management LLC now owns 802,000 shares of the financial services provider’s stock valued at $13,634,000 after buying an additional 523,300 shares during the last quarter. Hedge funds and other institutional investors own 46.67% of the company’s stock.
Virtu Financial Company Profile
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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