Virtu Financial, Inc. (NASDAQ:VIRT – Free Report) – Research analysts at Zacks Research dropped their Q4 2023 EPS estimates for shares of Virtu Financial in a research report issued on Tuesday, September 5th. Zacks Research analyst K. Dey now expects that the financial services provider will earn $0.45 per share for the quarter, down from their previous forecast of $0.46. The consensus estimate for Virtu Financial’s current full-year earnings is $1.85 per share. Zacks Research also issued estimates for Virtu Financial’s Q2 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.58 EPS, FY2024 earnings at $2.10 EPS and FY2025 earnings at $2.61 EPS.
VIRT has been the topic of several other research reports. StockNews.com assumed coverage on Virtu Financial in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup lifted their price target on shares of Virtu Financial from $18.00 to $20.00 in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. downgraded shares of Virtu Financial from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $19.00 in a research report on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.40.
Virtu Financial Trading Down 0.8 %
VIRT opened at $18.05 on Thursday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.27 and a beta of 0.24. Virtu Financial has a 1-year low of $16.26 and a 1-year high of $23.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.50 and a quick ratio of 0.50. The company’s 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $18.33.
Virtu Financial (NASDAQ:VIRT – Get Free Report) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $278.69 million during the quarter, compared to analyst estimates of $290.67 million. Virtu Financial had a return on equity of 18.21% and a net margin of 6.53%.
Virtu Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.96 annualized dividend and a yield of 5.32%. Virtu Financial’s dividend payout ratio (DPR) is currently 70.59%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Virtu Financial in the fourth quarter valued at approximately $25,000. Allworth Financial LP lifted its stake in Virtu Financial by 10,615.4% during the first quarter. Allworth Financial LP now owns 1,393 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,380 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Virtu Financial by 123.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,596 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 883 shares during the last quarter. Quarry LP increased its position in shares of Virtu Financial by 236.4% during the second quarter. Quarry LP now owns 1,581 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,111 shares during the period. Finally, McIlrath & Eck LLC bought a new position in Virtu Financial in the 1st quarter worth about $28,000. Institutional investors own 46.02% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc, a financial services company in New York. The company operates through two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company's solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities.
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