Virtu Financial (VIRT) Lowered to Sell at BidaskClub

Virtu Financial (NASDAQ:VIRT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other analysts have also recently issued research reports about the company. Sandler O’Neill boosted their price target on Virtu Financial from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. UBS set a $31.00 price objective on Virtu Financial and gave the stock a “buy” rating in a research report on Monday, February 12th. ValuEngine raised Virtu Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Jefferies Group initiated coverage on Virtu Financial in a research report on Wednesday. They set a “buy” rating and a $37.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Virtu Financial from $22.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $35.33.

Shares of NASDAQ:VIRT opened at $29.20 on Thursday. Virtu Financial has a fifty-two week low of $13.10 and a fifty-two week high of $37.85. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 51.23 and a beta of -0.59. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.77.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Friday, May 4th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. The company had revenue of $406.10 million during the quarter, compared to analysts’ expectations of $307.24 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 190.9% compared to the same quarter last year. analysts predict that Virtu Financial will post 2.06 EPS for the current fiscal year.

Virtu Financial declared that its board has authorized a stock repurchase program on Thursday, February 8th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In other Virtu Financial news, insider Tjmt Holdings Llc sold 3,281,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total value of $89,118,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $27.16, for a total value of $93,702,000.00. The disclosure for this sale can be found here. 73.50% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC grew its stake in shares of Virtu Financial by 73.2% in the 4th quarter. Penserra Capital Management LLC now owns 9,415 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 3,979 shares during the period. Successful Portfolios LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $206,000. Lucia Wealth Services LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $206,000. Aperio Group LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $210,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $231,000. 46.90% of the stock is owned by hedge funds and other institutional investors.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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