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

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

Virtu Financial Stock Performance

Shares of NASDAQ VIRT traded up $0.11 during midday trading on Friday, hitting $30.97. 1,104,090 shares of the stock traded hands, compared to its average volume of 1,282,295. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. Virtu Financial has a one year low of $16.02 and a one year high of $33.55. The firm has a market capitalization of $4.87 billion, a P/E ratio of 21.66, a PEG ratio of 0.49 and a beta of 0.38. The firm has a 50-day moving average of $31.41 and a two-hundred day moving average of $26.56.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.10%. Virtu Financial’s dividend payout ratio is presently 67.13%.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the firm’s stock in a transaction dated 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 directly owns 24,122 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 46.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VIRT shares. Bank of America lowered their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley upped 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. Citigroup increased their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research note on Thursday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock 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.