Virtu Financial (NYSE:VIRT) Posts Earnings Results

Virtu Financial (NYSE:VIRT) issued its quarterly earnings results on Tuesday. The company reported $1.82 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $718.00 million for the quarter. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%.

Virtu Financial Stock Down 1.5%

VIRT opened at $64.81 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.48 and a beta of 0.58. Virtu Financial has a one year low of $31.55 and a one year high of $68.02. The business’s fifty day moving average is $56.48 and its two-hundred day moving average is $46.37.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 1st. Virtu Financial’s payout ratio is presently 15.89%.

Insider Activity

In related news, COO Brett Fairclough sold 30,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $50.06, for a total value of $1,501,800.00. Following the sale, the chief operating officer directly owned 42,473 shares in the company, valued at $2,126,198.38. The trade was a 41.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

VIRT has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Virtu Financial from $51.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Wall Street Zen raised Virtu Financial from a “hold” rating to a “buy” rating in a research note on Sunday. Morgan Stanley raised their price target on Virtu Financial from $39.00 to $57.00 and gave the company an “underweight” rating in a report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of Virtu Financial in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their price objective on Virtu Financial from $44.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Virtu Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.67.

About Virtu Financial

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.