Virtu Financial (NASDAQ:VIRT) Hits New 52-Week Low – Here’s Why

Shares of Virtu Financial, Inc. (NASDAQ:VIRT) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $31.55 and last traded at $31.7050, with a volume of 235652 shares. The stock had previously closed at $33.72.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VIRT shares. The Goldman Sachs Group lowered their target price on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Morgan Stanley restated an “underweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Monday, December 22nd. Finally, Bank of America upgraded shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.71.

Virtu Financial Price Performance

The firm has a 50-day moving average of $34.48 and a 200-day moving average of $37.86. The stock has a market cap of $5.06 billion, a PE ratio of 9.54, a PEG ratio of 1.14 and a beta of 0.58. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business had revenue of $274.00 million during the quarter. Research analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, December 1st. Virtu Financial’s payout ratio is currently 20.78%.

Institutional Trading of Virtu Financial

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Virtu Financial by 128.7% in the third quarter. JPMorgan Chase & Co. now owns 431,145 shares of the financial services provider’s stock worth $15,306,000 after purchasing an additional 242,611 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Virtu Financial by 609.7% in the 3rd quarter. IFP Advisors Inc now owns 2,860 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,457 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Virtu Financial by 51.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 972 shares of the financial services provider’s stock valued at $35,000 after buying an additional 332 shares in the last quarter. Prana Capital Management LP grew its position in Virtu Financial by 323.6% in the third quarter. Prana Capital Management LP now owns 80,970 shares of the financial services provider’s stock worth $2,874,000 after acquiring an additional 61,854 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Virtu Financial during the third quarter valued at approximately $3,053,000. Institutional investors own 45.78% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.