Virtu Financial (VIRT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Virtu Financial (NASDAQ:VIRT) from a hold rating to a sell rating in a report issued on Thursday.

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. “

A number of other equities research analysts also recently commented on VIRT. Morgan Stanley started coverage on Virtu Financial in a research report on Wednesday, August 8th. They set an equal weight rating and a $22.00 price objective for the company. BidaskClub upgraded Virtu Financial from a strong sell rating to a sell rating in a research report on Tuesday, September 18th. Compass Point started coverage on Virtu Financial in a research report on Wednesday, September 19th. They set a neutral rating and a $23.00 price objective for the company. Citigroup reiterated a hold rating on shares of Virtu Financial in a research report on Friday, October 5th. Finally, ValuEngine upgraded Virtu Financial from a hold rating to a buy rating in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $30.64.

NASDAQ VIRT traded down $0.34 on Thursday, reaching $25.51. 4,710 shares of the stock traded hands, compared to its average volume of 974,739. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $4.74 billion, a P/E ratio of 44.81, a PEG ratio of 3.55 and a beta of -0.93. Virtu Financial has a 12 month low of $16.16 and a 12 month high of $37.85.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Virtu Financial had a return on equity of 19.85% and a net margin of 12.32%. The firm had revenue of $177.92 million during the quarter, compared to analyst estimates of $171.99 million. During the same period last year, the company posted $0.08 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Virtu Financial will post 1.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.76%. Virtu Financial’s payout ratio is currently 168.42%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Virtu Financial by 19,303.8% in the third quarter. Parallel Advisors LLC now owns 5,045 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 5,019 shares in the last quarter. Strs Ohio purchased a new stake in shares of Virtu Financial in the second quarter valued at $201,000. State of Wisconsin Investment Board purchased a new stake in shares of Virtu Financial in the second quarter valued at $203,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Virtu Financial in the second quarter valued at $206,000. Finally, Trexquant Investment LP purchased a new stake in shares of Virtu Financial in the third quarter valued at $208,000. Institutional investors own 55.59% 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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