Virtu Financial (VIRT) Sees Large Volume Increase

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Shares of Virtu Financial (NASDAQ:VIRT) saw strong trading volume on Friday . 4,616,685 shares traded hands during trading, an increase of 352% from the previous session’s volume of 1,021,029 shares.The stock last traded at $29.80 and had previously closed at $29.75.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Virtu Financial from $22.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 24th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Virtu Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 13th. BidaskClub lowered shares of Virtu Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 26th. Finally, Citigroup increased their price objective on shares of Virtu Financial from $26.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $35.33.

The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.73 and a beta of -0.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Friday, May 4th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.15. The firm had revenue of $406.10 million for the quarter, compared to analyst estimates of $307.24 million. Virtu Financial had a net margin of 11.08% and a return on equity of 20.32%. Virtu Financial’s quarterly revenue was up 190.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. research analysts expect that Virtu Financial will post 2.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.22%. Virtu Financial’s payout ratio is currently 168.42%.

In other Virtu Financial news, CEO Douglas A. Cifu sold 93,334 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $30.33, for a total value of $2,830,820.22. Following the sale, the chief executive officer now owns 335,450 shares in the company, valued at $10,174,198.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $27.16, for a total transaction of $93,702,000.00. The disclosure for this sale can be found here. Insiders sold 7,112,452 shares of company stock worth $194,307,000 in the last 90 days. 73.50% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Successful Portfolios LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $206,000. Lucia Wealth Services LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $206,000. Aperio Group LLC acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $210,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Virtu Financial in the first quarter valued at approximately $231,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Virtu Financial in the fourth quarter valued at approximately $232,000. Institutional investors own 25.54% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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