Morgan Stanley Lowers Virtu Financial (NASDAQ:VIRT) to Underweight


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Morgan Stanley lowered shares of Virtu Financial (NASDAQ:VIRT) from an equal weight rating to an underweight rating in a research report released on Monday, Analyst Ratings Network reports.

Several other brokerages have also issued reports on VIRT. Zacks Investment Research lowered Virtu Financial from a hold rating to a sell rating and set a $24.00 target price for the company. in a research report on Friday, October 9th. Piper Sandler lowered their target price on Virtu Financial from $31.00 to $29.00 and set an overweight rating for the company in a research report on Wednesday, September 23rd. Rosenblatt Securities raised Virtu Financial from a neutral rating to a buy rating and set a $28.00 target price for the company in a research report on Monday, November 9th. Finally, BidaskClub lowered Virtu Financial from a buy rating to a hold rating in a research report on Tuesday, January 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Virtu Financial currently has an average rating of Hold and a consensus price target of $26.40.

NASDAQ VIRT opened at $24.58 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.02. Virtu Financial has a twelve month low of $14.94 and a twelve month high of $28.59. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 7.71 and a beta of -0.35. The business’s fifty day moving average is $24.24 and its 200 day moving average is $24.17.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Friday, November 6th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Virtu Financial had a return on equity of 48.31% and a net margin of 14.76%. The company had revenue of $656.20 million for the quarter, compared to the consensus estimate of $357.12 million. During the same quarter last year, the business posted $0.21 EPS. Virtu Financial’s revenue for the quarter was up 71.6% on a year-over-year basis. On average, research analysts anticipate that Virtu Financial will post 4.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, November 30th. This represents a $0.96 dividend on an annualized basis and a yield of 3.91%. Virtu Financial’s dividend payout ratio (DPR) is currently 157.38%.

A number of hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC boosted its stake in Virtu Financial by 11.4% during the 4th quarter. Sowell Financial Services LLC now owns 33,934 shares of the financial services provider’s stock valued at $854,000 after purchasing an additional 3,470 shares during the last quarter. Brinker Capital Investments LLC purchased a new position in shares of Virtu Financial in the 3rd quarter worth approximately $2,379,000. Prana Capital Management LP boosted its stake in shares of Virtu Financial by 178.8% in the 3rd quarter. Prana Capital Management LP now owns 203,695 shares of the financial services provider’s stock worth $4,687,000 after buying an additional 130,632 shares during the last quarter. Twinbeech Capital LP boosted its stake in shares of Virtu Financial by 77.4% in the 3rd quarter. Twinbeech Capital LP now owns 20,380 shares of the financial services provider’s stock worth $469,000 after buying an additional 8,891 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Virtu Financial by 26.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 322,047 shares of the financial services provider’s stock worth $7,410,000 after buying an additional 68,102 shares during the last quarter. Institutional investors and hedge funds own 60.34% of the company’s stock.

Virtu Financial Company Profile

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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Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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