Virtu Financial (NASDAQ:VIRT) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Virtu Financial (NASDAQ:VIRT) posted its earnings results on Thursday. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03, Briefing.com reports. The firm had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. Virtu Financial’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share.

Virtu Financial Stock Performance

Shares of VIRT traded up $0.11 during mid-day trading on Friday, hitting $30.97. 1,104,090 shares of the company’s stock were exchanged, compared to its average volume of 1,282,295. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $33.55. The firm has a market capitalization of $4.87 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 0.38. The business’s 50 day moving average is $31.41 and its two-hundred day moving average is $26.56. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Sunday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.

Insider Transactions at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 46.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group increased their target price on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 1st. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Virtu Financial in a report on Thursday. Morgan Stanley raised their price objective on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America dropped their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Citigroup raised their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.50.

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.