Virtu Financial, Inc. (VIRT) Releases Earnings Results, Misses Estimates By $0.10 EPS
Virtu Financial, Inc. (NASDAQ:VIRT) released its quarterly earnings data on Tuesday. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.10, Bloomberg Earnings reports. Virtu Financial had a net margin of 4.41% and a return on equity of 20.72%. The firm had revenue of $77.10 million during the quarter, compared to the consensus estimate of $82.23 million. During the same quarter last year, the business posted $0.24 earnings per share. Virtu Financial’s revenue was down 24.6% compared to the same quarter last year.
Virtu Financial (NASDAQ VIRT) traded up 3.065% during trading on Wednesday, hitting $15.975. 197,697 shares of the stock were exchanged. The company has a 50-day moving average price of $16.98 and a 200 day moving average price of $16.81. Virtu Financial has a 1-year low of $12.35 and a 1-year high of $19.07. The firm has a market capitalization of $649.66 million, a price-to-earnings ratio of 23.843 and a beta of 0.39.
A number of equities analysts have recently commented on VIRT shares. UBS AG restated a “buy” rating and issued a $19.00 price objective (up from $17.00) on shares of Virtu Financial in a research report on Monday, April 24th. TheStreet upgraded shares of Virtu Financial from a “d-” rating to a “c-” rating in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Citigroup Inc. lowered shares of Virtu Financial from a “neutral” rating to a “sell” rating and cut their price objective for the company from $17.00 to $16.00 in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Virtu Financial currently has a consensus rating of “Hold” and an average price target of $16.00.
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In related news, major shareholder Holdings (Private) Ltd Temasek acquired 6,346,155 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was bought at an average cost of $15.60 per share, for a total transaction of $99,000,018.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 69.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in Virtu Financial during the first quarter valued at $2,126,000. State Street Corp increased its position in Virtu Financial by 6.4% in the fourth quarter. State Street Corp now owns 457,090 shares of the financial services provider’s stock valued at $7,292,000 after buying an additional 27,304 shares during the last quarter. Macquarie Group Ltd. increased its position in Virtu Financial by 30.6% in the fourth quarter. Macquarie Group Ltd. now owns 105,849 shares of the financial services provider’s stock valued at $1,688,000 after buying an additional 24,781 shares during the last quarter. Russell Investments Group Ltd. increased its position in Virtu Financial by 506.5% in the first quarter. Russell Investments Group Ltd. now owns 25,018 shares of the financial services provider’s stock valued at $425,000 after buying an additional 20,893 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Virtu Financial by 37.1% in the fourth quarter. Teachers Advisors LLC now owns 55,003 shares of the financial services provider’s stock valued at $877,000 after buying an additional 14,876 shares during the last quarter. Institutional investors own 43.88% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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