Virtu Financial (NASDAQ:VIRT) Rating Lowered to Underweight at Morgan Stanley

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

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

Virtu Financial stock opened at $24.58 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $24.24 and a 200-day moving average of $24.17. The firm has a market cap of $4.76 billion, a P/E ratio of 7.71 and a beta of -0.35. Virtu Financial has a 1-year low of $14.94 and a 1-year high of $28.59.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Friday, November 6th. The financial services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. The company had revenue of $656.20 million during the quarter, compared to analyst estimates of $357.12 million. Virtu Financial had a net margin of 14.76% and a return on equity of 48.31%. Virtu Financial’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Research analysts forecast that Virtu Financial will post 4.99 earnings per share for the current fiscal year.

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Monday, November 30th. Virtu Financial’s dividend payout ratio is 157.38%.

Several hedge funds and other institutional investors have recently made changes to their positions in VIRT. American International Group Inc. increased its position in shares of Virtu Financial by 66.4% during the second quarter. American International Group Inc. now owns 1,614 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 644 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Virtu Financial during the third quarter valued at approximately $80,000. Duncker Streett & Co. Inc. bought a new stake in shares of Virtu Financial during the third quarter valued at approximately $81,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Virtu Financial during the third quarter valued at approximately $107,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Virtu Financial during the third quarter valued at approximately $119,000. 60.34% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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