Virtu Financial (NYSE:VIRT) Hits New 52-Week High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler raised their target price on Virtu Financial from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Morgan Stanley upped their price target on Virtu Financial from $39.00 to $57.00 and gave the company an “underweight” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Virtu Financial in a report on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on Virtu Financial from $44.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Zacks Research raised Virtu Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

Virtu Financial Price Performance

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 firm’s 50-day moving average is $56.17 and its 200-day moving average is $46.06. The company has a market cap of $10.21 billion, a PE ratio of 10.90, a PEG ratio of 1.64 and a beta of 0.58.

Virtu Financial (NYSE:VIRT) last issued 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 business had revenue of $786.53 million during the quarter, compared to analyst estimates of $613.12 million. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. Virtu Financial’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. On average, equities analysts anticipate that Virtu Financial, Inc. will post 5.7 EPS for the current year.

Virtu Financial Announces Dividend

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

Insider Activity at Virtu Financial

In related news, COO Brett Fairclough sold 30,000 shares of Virtu Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $50.06, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 46.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Virtu Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC grew its position in shares of Virtu Financial by 480.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company’s stock worth $28,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC lifted its position in Virtu Financial by 103.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $34,000 after acquiring an additional 387 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Virtu Financial by 51.9% during the third quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock worth $35,000 after acquiring an additional 332 shares in the last quarter. Quarry LP purchased a new stake in Virtu Financial in the third quarter worth about $35,000. Finally, International Assets Investment Management LLC purchased a new stake in Virtu Financial in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

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.