Virtu Financial (NYSE:VIRT) Sets New 12-Month High – Time to Buy?

Shares of Virtu Financial, Inc. (NYSE:VIRT) reached a new 52-week high on Thursday . The stock traded as high as $65.25 and last traded at $65.0560, with a volume of 838 shares. The stock had previously closed at $64.27.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VIRT shares. The Goldman Sachs Group increased their price objective on Virtu Financial from $51.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Zacks Research raised Virtu Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley lifted their price target on shares of Virtu Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Virtu Financial in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.67.

Virtu Financial Stock Up 2.1%

The company has a market cap of $10.18 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average of $55.52 and a 200 day moving average of $45.69.

Virtu Financial (NYSE:VIRT) last posted its earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.58. The company had revenue of $786.53 million for the quarter, compared to the consensus estimate of $613.12 million. Virtu Financial had a return on equity of 51.63% and a net margin of 14.17%.Virtu Financial’s revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, research analysts anticipate that Virtu Financial, Inc. will post 5.7 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. Virtu Financial’s dividend payout ratio (DPR) is presently 15.89%.

Insider Transactions at Virtu Financial

In related news, COO Brett Fairclough sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the completion of the sale, the chief operating officer directly owned 42,473 shares in the company, valued at approximately $2,126,198.38. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 46.76% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clark Capital Management Group Inc. lifted its position in shares of Virtu Financial by 32.2% during the 3rd quarter. Clark Capital Management Group Inc. now owns 275,978 shares of the company’s stock valued at $9,797,000 after buying an additional 67,230 shares in the last quarter. Algebris UK Ltd. purchased a new stake in Virtu Financial in the 4th quarter worth approximately $22,377,000. Stephens Investment Management Group LLC raised its stake in Virtu Financial by 27.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 516,366 shares of the company’s stock worth $22,710,000 after acquiring an additional 111,437 shares during the period. Prana Capital Management LP raised its stake in Virtu Financial by 323.6% during the 3rd quarter. Prana Capital Management LP now owns 80,970 shares of the company’s stock worth $2,874,000 after acquiring an additional 61,854 shares during the period. Finally, Robertson Stephens Wealth Management LLC purchased a new position in Virtu Financial during the fourth quarter valued at approximately $2,489,000. 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.