Bank of America Increases Virtu Financial (NASDAQ:VIRT) Price Target to $25.00

Virtu Financial (NASDAQ:VIRT) had its price target lifted by stock analysts at Bank of America from $22.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 13.53% from the stock’s previous close.

VIRT has been the topic of several other research reports. Morgan Stanley upped their price objective on Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. UBS Group cut their price target on Virtu Financial from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Piper Sandler upped their price objective on shares of Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup increased their target price on Virtu Financial from $21.00 to $22.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.24.

Virtu Financial Trading Down 1.7 %

VIRT stock opened at $22.02 on Thursday. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $22.80. The firm has a market cap of $3.48 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.60 and a beta of 0.40. The business’s 50 day moving average is $19.57 and its 200-day moving average is $18.84. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.23.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.13). The business had revenue of $535.98 million during the quarter, compared to analyst estimates of $272.96 million. Virtu Financial had a return on equity of 17.14% and a net margin of 6.04%. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities analysts anticipate that Virtu Financial will post 1.8 earnings per share for the current fiscal year.

Insider Activity at Virtu Financial

In related news, CEO Douglas A. Cifu acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average cost of $16.21 per share, for a total transaction of $810,500.00. Following the completion of the transaction, the chief executive officer now directly owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 44.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Virtu Financial

Several hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Virtu Financial during the first quarter worth approximately $26,000. Quarry LP increased its holdings in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 746 shares during the period. CWM LLC increased its stake in Virtu Financial by 112.3% in the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Virtu Financial by 48.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,574 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 1,161 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Virtu Financial by 1,867.8% in the fourth quarter. International Assets Investment Management LLC now owns 4,093 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 3,885 shares during the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Company Profile

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.