Virtu Financial, Inc. (NASDAQ:VIRT) Short Interest Up 36.4% in June

Virtu Financial, Inc. (NASDAQ:VIRT) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 2,100,000 shares, an increase of 36.4% from the May 31st total of 1,540,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.5% of the shares of the company are sold short.

Virtu Financial Price Performance

Virtu Financial stock traded down $0.33 during midday trading on Friday, hitting $22.45. 1,552,646 shares of the company’s stock were exchanged, compared to its average volume of 2,343,461. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $25.68. The stock has a 50-day moving average price of $22.79 and a two-hundred day moving average price of $20.40. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $3.53 billion, a P/E ratio of 15.70, a PEG ratio of 0.48 and a beta of 0.36.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. Virtu Financial had a return on equity of 17.33% and a net margin of 6.04%. The business had revenue of $366.87 million during the quarter, compared to analysts’ expectations of $334.79 million. On average, equities research analysts forecast that Virtu Financial will post 2.08 earnings per share for the current year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, May 31st. Virtu Financial’s dividend payout ratio (DPR) is currently 67.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Piper Sandler lifted their price target on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup lifted their price target on Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a research report on Thursday, April 25th. Bank of America lifted their price target on Virtu Financial from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their price target on Virtu Financial from $19.20 to $21.70 and gave the company a “neutral” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.24.

Institutional Investors Weigh In On Virtu Financial

Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Virtu Financial during the first quarter worth about $26,000. Quarry LP lifted its stake in 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 last quarter. CWM LLC lifted its stake in Virtu Financial by 112.3% during the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,127 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Virtu Financial by 48.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,574 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 1,161 shares during the last quarter. Institutional investors 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.