Piper Sandler Increases Virtu Financial (NASDAQ:VIRT) Price Target to $35.00

Virtu Financial (NASDAQ:VIRT) had its target price hoisted by Piper Sandler from $31.00 to $35.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. Citigroup upped their price objective on Virtu Financial from $26.00 to $32.00 and gave the company a buy rating in a research note on Friday, July 19th. The Goldman Sachs Group increased their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a neutral rating in a research report on Monday, September 30th. Bank of America reduced their target price on shares of Virtu Financial from $37.00 to $35.00 and set a buy rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised Virtu Financial from a sell rating to a hold rating in a research note on Wednesday, June 19th. Finally, UBS Group upped their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the company a neutral rating in a research report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $28.79.

Virtu Financial Trading Up 1.2 %

Shares of VIRT stock opened at $32.15 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $32.88. The business’s 50 day moving average is $30.56 and its two-hundred day moving average is $25.57. The company has a market cap of $5.05 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.54 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The business had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities analysts predict that Virtu Financial will post 2.47 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a dividend of $0.24 per share. The ex-dividend date was Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 2.99%. Virtu Financial’s payout ratio is presently 67.13%.

Insider Buying and Selling at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

Institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC boosted its stake in shares of Virtu Financial by 76.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,572 shares of the financial services provider’s stock valued at $1,510,000 after purchasing an additional 31,884 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Virtu Financial in the 1st quarter valued at about $1,238,000. Diversify Advisory Services LLC bought a new position in shares of Virtu Financial in the first quarter worth $957,000. Seven Eight Capital LP purchased a new stake in Virtu Financial in the 1st quarter worth approximately $1,368,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Virtu Financial during the 4th quarter valued at about $1,478,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

About Virtu Financial

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.