Virtu Financial (NASDAQ:VIRT) Given New $25.00 Price Target at Bank of America

Virtu Financial (NASDAQ:VIRT) had its target price raised by Bank of America from $22.00 to $25.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 12.41% from the stock’s previous close.

A number of other research firms also recently commented on VIRT. Morgan Stanley raised their price objective on shares of Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. UBS Group cut their price objective on Virtu Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, January 26th. Piper Sandler lifted their price target on shares of Virtu Financial from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup increased their price objective on shares of Virtu Financial from $21.00 to $22.50 and gave the company a “buy” rating in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Virtu Financial currently has a consensus rating of “Hold” and a consensus target price of $21.58.

Virtu Financial Stock Performance

VIRT stock traded up $0.40 during mid-day trading on Thursday, reaching $22.24. 455,640 shares of the stock traded hands, compared to its average volume of 1,071,002. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average of $19.45 and a two-hundred day moving average of $18.82. The firm has a market capitalization of $3.52 billion, a PE ratio of 15.89, a P/E/G ratio of 0.58 and a beta of 0.40. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $22.80.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Virtu Financial had a return on equity of 16.94% and a net margin of 6.22%. The company had revenue of $535.98 million during the quarter, compared to analyst estimates of $272.96 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, equities analysts predict that Virtu Financial will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas A. Cifu purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was bought at an average cost of $16.21 per share, for a total transaction of $810,500.00. Following the purchase, the chief executive officer now owns 584,132 shares of the company’s stock, valued at $9,468,779.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 44.80% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its position in shares of Virtu Financial by 131.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 84,802 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 48,127 shares during the period. 1834 Investment Advisors Co. boosted its holdings in Virtu Financial by 913.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 306,289 shares of the financial services provider’s stock worth $6,205,000 after acquiring an additional 276,071 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of Virtu Financial during the third quarter worth approximately $1,149,000. Hsbc Holdings PLC increased its stake in Virtu Financial by 27.7% during the 3rd quarter. Hsbc Holdings PLC now owns 280,338 shares of the financial services provider’s stock valued at $4,834,000 after purchasing an additional 60,776 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Virtu Financial during the fourth quarter valued at about $1,699,000. Institutional investors and hedge funds 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.