Virtu Financial (NYSE:VIRT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Virtu Financial (NYSE:VIRT) had its target price increased by research analysts at JPMorgan Chase & Co. from $44.00 to $51.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.88% from the stock’s previous close.

Several other brokerages have also recently weighed in on VIRT. Morgan Stanley boosted their target price on Virtu Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Wall Street Zen upgraded Virtu Financial from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. The Goldman Sachs Group boosted their price objective on Virtu Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler upped their target price on Virtu Financial from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, Weiss Ratings raised Virtu Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.67.

Virtu Financial Price Performance

Shares of NYSE VIRT opened at $48.17 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.47 and a current ratio of 1.12. The firm has a fifty day moving average of $44.59 and a 200 day moving average of $38.54. The firm has a market cap of $7.45 billion, a PE ratio of 7.97, a PEG ratio of 3.94 and a beta of 0.62. Virtu Financial has a one year low of $31.55 and a one year high of $52.21.

Virtu Financial (NYSE:VIRT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $1.66 by $0.58. The company had revenue of $786.53 million during the quarter, compared to analyst estimates of $613.12 million. Virtu Financial had a return on equity of 51.63% and a net margin of 14.17%.Virtu Financial’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. As a group, research analysts predict that Virtu Financial will post 4.83 EPS for the current fiscal year.

Insider Activity at Virtu Financial

In related news, EVP Stephen Cavoli sold 28,370 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $38.94, for a total value of $1,104,727.80. Following the transaction, the executive vice president directly owned 116,191 shares in the company, valued at approximately $4,524,477.54. This represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph Molluso sold 200,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $38.88, for a total value of $7,776,000.00. Following the completion of the transaction, the chief operating officer owned 326,585 shares of the company’s stock, valued at $12,697,624.80. The trade was a 37.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 270,000 shares of company stock worth $10,458,644. Corporate insiders own 47.20% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its position in Virtu Financial by 1,624.1% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the company’s stock valued at $38,000 after buying an additional 942 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Virtu Financial during the first quarter valued at about $222,000. Empowered Funds LLC acquired a new stake in shares of Virtu Financial during the first quarter valued at about $1,934,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Virtu Financial by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,233 shares of the company’s stock valued at $8,624,000 after acquiring an additional 26,743 shares during the period. Finally, Creative Planning purchased a new stake in shares of Virtu Financial in the 2nd quarter valued at approximately $235,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.