Virtu Financial Inc (NASDAQ:VIRT) – Stock analysts at Jefferies Financial Group lowered their Q4 2019 earnings per share (EPS) estimates for shares of Virtu Financial in a research note issued to investors on Wednesday, November 6th. Jefferies Financial Group analyst D. Fannon now forecasts that the financial services provider will post earnings per share of $0.25 for the quarter, down from their previous estimate of $0.33. Jefferies Financial Group also issued estimates for Virtu Financial’s Q1 2020 earnings at $0.37 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.36 EPS.
Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $245.00 million for the quarter, compared to analyst estimates of $241.79 million. Virtu Financial had a net margin of 2.55% and a return on equity of 18.75%. Virtu Financial’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share.
A number of other equities analysts have also commented on the stock. UBS Group lowered shares of Virtu Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $17.00 in a report on Friday. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $23.00 price target on shares of Virtu Financial in a report on Tuesday, September 3rd. Compass Point set a $18.00 target price on shares of Virtu Financial and gave the company a “hold” rating in a report on Wednesday, October 9th. ValuEngine upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Finally, Zacks Investment Research upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.50.
Shares of NASDAQ:VIRT traded up $0.23 during mid-day trading on Friday, reaching $16.23. 993,610 shares of the company’s stock were exchanged, compared to its average volume of 984,618. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 3.33 and a beta of -0.55. The business’s fifty day moving average price is $16.95 and its 200-day moving average price is $20.45. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.63 and a current ratio of 1.22. Virtu Financial has a twelve month low of $15.32 and a twelve month high of $29.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, November 29th. Virtu Financial’s payout ratio is 48.98%.
In other Virtu Financial news, CEO Douglas A. Cifu purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $18.58 per share, for a total transaction of $185,800.00. Following the purchase, the chief executive officer now owns 235,000 shares of the company’s stock, valued at approximately $4,366,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas A. Cifu bought 20,000 shares of the stock in a transaction on Thursday, November 7th. The stock was purchased at an average price of $16.24 per share, for a total transaction of $324,800.00. Following the completion of the purchase, the chief executive officer now directly owns 255,000 shares in the company, valued at $4,141,200. The disclosure for this purchase can be found here. 63.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of VIRT. Tower Research Capital LLC TRC grew its holdings in shares of Virtu Financial by 208.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,668 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,127 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in Virtu Financial by 31.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,068 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,222 shares during the period. Public Employees Retirement System of Ohio lifted its position in Virtu Financial by 39.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,256 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,773 shares during the period. Parallel Advisors LLC lifted its position in Virtu Financial by 32.6% during the 2nd quarter. Parallel Advisors LLC now owns 6,689 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,644 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in Virtu Financial during the 2nd quarter valued at about $149,000. 64.93% of the stock is currently owned by hedge funds and other institutional investors.
About Virtu Financial
Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
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