Virtu Financial (NASDAQ:VIRT) Hits New 52-Week High Following Earnings Beat

Virtu Financial, Inc. (NASDAQ:VIRT) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $40.29 and last traded at $39.28, with a volume of 22186 shares. The stock had previously closed at $38.93.

The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, November 29th. Virtu Financial’s dividend payout ratio (DPR) is currently 48.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VIRT. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler upped their price target on shares of Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Bank of America dropped their price target 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.21.

Hedge Funds Weigh In On Virtu Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Virtu Financial during the fourth quarter worth $25,000. USA Financial Formulas purchased a new position in Virtu Financial in the 3rd quarter worth approximately $33,000. Albion Financial Group UT purchased a new position in shares of Virtu Financial during the 4th quarter valued at about $45,000. GAMMA Investing LLC raised its position in Virtu Financial by 149.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,442 shares during the period. Finally, Blue Trust Inc. increased its stake in Virtu Financial by 13.0% in the 4th quarter. Blue Trust Inc. now owns 2,794 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 322 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

The business’s fifty day simple moving average is $36.69 and its 200-day simple moving average is $32.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The firm has a market cap of $6.12 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 0.49 and a beta of 0.45.

Virtu Financial Company Profile

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.