Virtu Financial (VIRT) Announces Earnings Results

Virtu Financial (NASDAQ:VIRT) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03, Fidelity Earnings reports. Virtu Financial had a net margin of 11.30% and a return on equity of 19.62%. The firm had revenue of $177.92 million for the quarter, compared to the consensus estimate of $171.99 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year.

VIRT opened at $25.59 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 3.50 and a beta of -0.95. Virtu Financial has a fifty-two week low of $14.98 and a fifty-two week high of $37.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.65 and a current ratio of 0.65.

VIRT has been the topic of a number of recent research reports. Citigroup decreased their price target on shares of Virtu Financial from $37.00 to $28.00 and set a “$26.55” rating on the stock in a research note on Wednesday, July 18th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price target on shares of Virtu Financial in a research note on Monday, July 30th. Sandler O’Neill reiterated a “buy” rating and set a $27.00 price target on shares of Virtu Financial in a research note on Friday, July 27th. Finally, Morgan Stanley initiated coverage on shares of Virtu Financial in a research note on Wednesday, August 8th. They set an “equal weight” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Virtu Financial has an average rating of “Hold” and an average price target of $30.09.

Hedge funds and other institutional investors have recently modified their holdings of the business. Crawford Lake Capital Management LLC bought a new position in shares of Virtu Financial during the second quarter valued at $1,338,000. EJF Capital LLC bought a new position in shares of Virtu Financial during the second quarter valued at $266,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Virtu Financial during the second quarter valued at $1,181,000. Private Advisor Group LLC lifted its holdings in shares of Virtu Financial by 88.4% during the second quarter. Private Advisor Group LLC now owns 30,351 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 14,245 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Virtu Financial by 8.0% during the second quarter. BlackRock Inc. now owns 2,268,190 shares of the financial services provider’s stock valued at $60,220,000 after acquiring an additional 167,624 shares during the period. 53.90% of the stock is owned by institutional investors.

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About Virtu Financial

Virtu Financial, Inc engages in the business of buying and selling of securities and other financial instruments. It offers market making and trading solutions. The company was founded by Vincent Viola in 2008 and is headquartered in New York, NY.

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Earnings History for Virtu Financial (NASDAQ:VIRT)

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