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

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

Virtu Financial Stock Performance

Shares of Virtu Financial stock traded up $0.11 during midday trading on Friday, hitting $30.97. The company had a trading volume of 1,104,090 shares, compared to its average volume of 1,282,295. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.49 and a beta of 0.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $31.41 and a 200 day simple moving average of $26.56. Virtu Financial has a 12-month low of $16.02 and a 12-month high of $33.55.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Sunday, December 1st. Virtu Financial’s payout ratio is currently 67.13%.

Analyst Upgrades and Downgrades

Several analysts have commented on VIRT shares. Bank of America decreased 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. UBS Group increased their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday. 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 research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.50.

Insider Activity at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 46.70% of the stock is currently owned by insiders.

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.