Virtu Financial, Inc. (VIRT) Research Coverage Started at Rosenblatt Securities
Equities research analysts at Rosenblatt Securities began coverage on shares of Virtu Financial, Inc. (NASDAQ:VIRT) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating on the financial services provider’s stock.
VIRT has been the subject of a number of other reports. BidaskClub downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. TheStreet raised shares of Virtu Financial from a “d-” rating to a “c-” rating in a research note on Friday, May 19th. Zacks Investment Research raised shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Citigroup Inc. downgraded shares of Virtu Financial from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $17.00 to $16.00 in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Virtu Financial in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Virtu Financial currently has an average rating of “Hold” and an average price target of $15.50.
Virtu Financial (VIRT) traded down 1.18% on Friday, hitting $16.70. 1,345,897 shares of the stock traded hands. Virtu Financial has a 12-month low of $12.35 and a 12-month high of $19.07. The stock has a 50-day moving average price of $16.94 and a 200 day moving average price of $16.63. The stock has a market cap of $1.45 billion, a P/E ratio of 36.30 and a beta of 0.37.
Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Virtu Financial had a net margin of 3.42% and a return on equity of 16.54%. The firm had revenue of $77.10 million for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was down 24.6% on a year-over-year basis. On average, equities analysts expect that Virtu Financial will post $0.66 EPS for the current fiscal year.
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In other Virtu Financial news, major shareholder Holdings (Private) Ltd Temasek purchased 6,346,155 shares of the stock in a transaction dated Thursday, July 20th. The stock was bought at an average price of $15.60 per share, for a total transaction of $99,000,018.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder North Island Ventures, Llc purchased 338,124 shares of the stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $15.44 per share, with a total value of $5,220,634.56. The disclosure for this purchase can be found here. 69.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VIRT. Quantbot Technologies LP grew its holdings in Virtu Financial by 1,479.0% during the first quarter. Quantbot Technologies LP now owns 6,316 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 5,916 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Virtu Financial during the first quarter valued at approximately $109,000. WBI Investments Inc. acquired a new position in Virtu Financial during the second quarter valued at approximately $194,000. American International Group Inc. grew its holdings in Virtu Financial by 7.1% during the first quarter. American International Group Inc. now owns 15,512 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,023 shares during the period. Finally, US Bancorp DE grew its holdings in Virtu Financial by 80.1% during the first quarter. US Bancorp DE now owns 16,312 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 7,256 shares during the period. Hedge funds and other institutional investors own 46.67% of the company’s stock.
Virtu Financial Company Profile
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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