Virtu Financial (VIRT) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Virtu Financial (NASDAQ:VIRT) from a strong sell rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

A number of other research firms also recently issued reports on VIRT. Morgan Stanley set a $27.00 price target on Virtu Financial and gave the stock a hold rating in a research note on Friday, January 4th. Zacks Investment Research downgraded Virtu Financial from a buy rating to a hold rating in a research note on Saturday, January 19th. Goldman Sachs Group upgraded Virtu Financial from a neutral rating to a buy rating and set a $29.00 price target on the stock in a research note on Friday, January 4th. ValuEngine downgraded Virtu Financial from a buy rating to a hold rating in a research note on Tuesday, February 12th. Finally, UBS Group dropped their price target on Virtu Financial from $36.00 to $32.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $29.36.

VIRT stock opened at $25.22 on Friday. The firm has a market capitalization of $4.79 billion, a PE ratio of 12.87, a PEG ratio of 3.00 and a beta of -0.73. Virtu Financial has a 1 year low of $19.65 and a 1 year high of $37.70. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.61.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The firm had revenue of $299.20 million for the quarter, compared to the consensus estimate of $292.87 million. Virtu Financial had a return on equity of 24.62% and a net margin of 15.39%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, equities research analysts expect that Virtu Financial will post 1.68 earnings per share for the current fiscal year.

In related news, CEO Douglas A. Cifu sold 127,088 shares of Virtu Financial stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $26.31, for a total transaction of $3,343,685.28. Following the transaction, the chief executive officer now directly owns 138,544 shares in the company, valued at $3,645,092.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 73.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC purchased a new position in Virtu Financial during the first quarter valued at $1,370,000. Nkcfo LLC raised its holdings in Virtu Financial by 16.8% during the first quarter. Nkcfo LLC now owns 13,900 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 2,000 shares during the period. Hodges Capital Management Inc. bought a new stake in Virtu Financial during the first quarter valued at about $2,375,000. Strategic Advisors LLC bought a new stake in Virtu Financial during the first quarter valued at about $331,000. Finally, Peregrine Capital Management LLC raised its holdings in Virtu Financial by 18.6% during the first quarter. Peregrine Capital Management LLC now owns 666,747 shares of the financial services provider’s stock valued at $15,835,000 after acquiring an additional 104,678 shares during the period. Institutional investors own 55.70% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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