Virtu Financial (NASDAQ:VIRT) Sees Unusually-High Trading Volume Following Analyst Upgrade

Virtu Financial, Inc. (NASDAQ:VIRT) saw unusually-high trading volume on Tuesday after The Goldman Sachs Group raised their price target on the stock from $26.00 to $29.00. The Goldman Sachs Group currently has a neutral rating on the stock. Approximately 4,416,353 shares changed hands during mid-day trading, an increase of 239% from the previous session’s volume of 1,301,279 shares.The stock last traded at $31.00 and had previously closed at $30.46.

VIRT has been the topic of several other research reports. Bank of America increased their target price on Virtu Financial from $25.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup increased their price objective on Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Piper Sandler increased their price target on shares of Virtu Financial from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, UBS Group raised their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.79.

Insider Buying and Selling at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now directly owns 24,122 shares in the company, valued at $658,530.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 46.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Virtu Financial

Institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Virtu Financial during the first quarter worth $26,000. Quarry LP raised its stake in shares of Virtu Financial by 79.9% during the 4th quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after buying an additional 746 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Virtu Financial in the 2nd quarter worth about $39,000. Abich Financial Wealth Management LLC grew its stake in Virtu Financial by 55.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 781 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Virtu Financial in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Price Performance

The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $4.90 billion, a PE ratio of 21.80, a P/E/G ratio of 0.48 and a beta of 0.38. The company’s fifty day simple moving average is $30.01 and its two-hundred day simple moving average is $25.06.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results 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 return on equity of 22.74% and a net margin of 7.59%. The firm had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Virtu Financial’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts predict that Virtu Financial, Inc. will post 2.47 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, August 30th. Virtu Financial’s dividend payout ratio is presently 67.13%.

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.