Virtu Financial (NASDAQ:VIRT) Earns Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Virtu Financial (NASDAQ:VIRT) in a report published on Thursday morning, Benzinga reports. They currently have a $35.00 target price on the financial services provider’s stock.

A number of other equities analysts have also commented on VIRT. The Goldman Sachs Group boosted their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley boosted their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group increased their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Bank of America dropped their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Citigroup increased their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Virtu Financial presently has a consensus rating of “Hold” and an average price target of $29.50.

Virtu Financial Stock Performance

NASDAQ VIRT opened at $30.97 on Thursday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.49 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $33.55. The company has a 50 day moving average of $31.41 and a 200-day moving average of $26.52.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date is Sunday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. Virtu Financial’s payout ratio is presently 67.13%.

Insiders Place Their Bets

In other news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Virtu Financial

A number of institutional investors and hedge funds have recently modified their holdings of VIRT. Quadrature Capital Ltd bought a new stake in Virtu Financial in the fourth quarter valued at approximately $247,000. Riverview Trust Co acquired a new stake in Virtu Financial during the 1st quarter worth approximately $26,000. First Bank & Trust lifted its stake in Virtu Financial by 3.9% in the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock valued at $402,000 after buying an additional 734 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Virtu Financial by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider’s stock valued at $15,296,000 after buying an additional 9,826 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Virtu Financial during the first quarter worth $616,000. 45.78% of the stock is owned by institutional investors.

About Virtu Financial

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.