Virtu Financial (NASDAQ:VIRT) Hits New 52-Week High – Here’s What Happened

Virtu Financial, Inc. (NASDAQ:VIRT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $33.71 and last traded at $33.71, with a volume of 49126 shares traded. The stock had previously closed at $33.41.

Analyst Upgrades and Downgrades

VIRT has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $35.00 price objective on shares of Virtu Financial in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Citigroup upped their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America reduced their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.50.

Virtu Financial Stock Up 2.4 %

The business has a fifty day simple moving average of $31.76 and a two-hundred day simple moving average of $27.26. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The company has a market cap of $5.29 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.52 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. As a group, equities research analysts predict that Virtu Financial, Inc. will post 2.7 earnings per share for the current year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.81%. Virtu Financial’s payout ratio is currently 48.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in shares of Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 372 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of Virtu Financial by 22.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 487 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Virtu Financial by 3.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,421 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 587 shares during the period. Atria Investments Inc raised its holdings in shares of Virtu Financial by 7.2% during the 3rd quarter. Atria Investments Inc now owns 10,724 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 717 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Virtu Financial by 3.0% during the 3rd quarter. QRG Capital Management Inc. now owns 25,167 shares of the financial services provider’s stock worth $767,000 after acquiring an additional 728 shares during the period. Hedge funds and other institutional investors own 45.78% of the company’s stock.

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.