Virtu Financial (VIRT) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Virtu Financial (NASDAQ:VIRT) from a strong-buy rating to a hold rating in a research note published on Friday morning.

According to Zacks, “Virtu Financial, Inc. is a financial holding company. The company offers a technology platform through which it provides quotations to buyers and sellers in equities, commodities, currencies, options, fixed income and other securities on exchanges, markets and liquidity pools. Virtu Financial, Inc. is headquartered in New York. “

Several other research analysts have also weighed in on VIRT. JPMorgan Chase upped their price objective on shares of Virtu Financial from $13.50 to $17.50 and gave the company an underweight rating in a research note on Thursday, January 25th. BidaskClub upgraded shares of Virtu Financial from a hold rating to a buy rating in a research note on Tuesday, February 13th. Rosenblatt Securities upped their price objective on shares of Virtu Financial from $18.00 to $26.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Sandler O’Neill upped their price objective on shares of Virtu Financial from $19.00 to $27.00 and gave the company a buy rating in a research note on Thursday, February 8th. Finally, Evercore ISI boosted their target price on shares of Virtu Financial from $18.00 to $27.00 and gave the stock an in-line rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $26.00.

Virtu Financial stock opened at $36.30 on Friday. The company has a market capitalization of $6,699.49, a price-to-earnings ratio of 63.47 and a beta of -0.59. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.21. Virtu Financial has a twelve month low of $13.10 and a twelve month high of $36.84.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.10. The firm had revenue of $460.42 million for the quarter, compared to analyst estimates of $194.80 million. Virtu Financial had a net margin of 1.69% and a return on equity of 10.73%. During the same quarter in the prior year, the business earned $0.24 EPS. equities research analysts forecast that Virtu Financial will post 1.59 earnings per share for the current year.

Virtu Financial announced that its board has approved a stock buyback program on Thursday, February 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the business. North Island ManageCo LLC bought a new stake in Virtu Financial in the fourth quarter worth approximately $733,173,000. Sheets Smith Wealth Management bought a new stake in Virtu Financial in the fourth quarter worth approximately $272,000. Teacher Retirement System of Texas bought a new stake in Virtu Financial in the fourth quarter worth approximately $296,000. GSA Capital Partners LLP grew its position in Virtu Financial by 43.2% in the third quarter. GSA Capital Partners LLP now owns 28,376 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 8,567 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Virtu Financial by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 290,335 shares of the financial services provider’s stock worth $4,704,000 after acquiring an additional 9,998 shares in the last quarter. 47.70% of the stock is owned by institutional investors.

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About Virtu Financial

Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.

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