Virtu Financial (NASDAQ:VIRT) Downgraded to “Sell” at Zacks Investment Research

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

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. “

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. BidaskClub downgraded shares of Virtu Financial from a sell rating to a strong sell rating in a research report on Wednesday, June 12th. Rosenblatt Securities initiated coverage on shares of Virtu Financial in a research report on Wednesday, June 26th. They set a buy rating and a $29.00 target price on the stock. ValuEngine downgraded shares of Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. Finally, UBS Group cut their target price on shares of Spotify from $182.00 to $180.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $27.78.

VIRT opened at $21.84 on Friday. The firm has a 50 day moving average of $22.06. Virtu Financial has a 1-year low of $19.65 and a 1-year high of $29.17. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.65. The firm has a market cap of $4.16 billion, a P/E ratio of 14.86, a P/E/G ratio of 2.89 and a beta of -0.59.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Virtu Financial had a net margin of 7.56% and a return on equity of 19.13%. The company had revenue of $363.00 million during the quarter, compared to analyst estimates of $245.86 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was down 55.5% on a year-over-year basis. On average, equities analysts predict that Virtu Financial will post 1.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date was Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 4.40%. Virtu Financial’s dividend payout ratio is presently 48.98%.

In related news, EVP Stephen Cavoli sold 7,500 shares of Virtu Financial stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $23.48, for a total transaction of $176,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 63.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in VIRT. Bogart Wealth LLC increased its stake in shares of Virtu Financial by 73.4% in the 2nd quarter. Bogart Wealth LLC now owns 8,581 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 3,633 shares in the last quarter. Bangor Savings Bank increased its stake in Virtu Financial by 24.9% during the 2nd quarter. Bangor Savings Bank now owns 46,266 shares of the financial services provider’s stock valued at $1,008,000 after purchasing an additional 9,227 shares in the last quarter. WINTON GROUP Ltd increased its stake in Virtu Financial by 17.1% during the 2nd quarter. WINTON GROUP Ltd now owns 43,009 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 6,295 shares in the last quarter. First Trust Advisors LP increased its stake in Virtu Financial by 22.5% during the 1st quarter. First Trust Advisors LP now owns 470,760 shares of the financial services provider’s stock valued at $11,181,000 after purchasing an additional 86,339 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in Virtu Financial during the 1st quarter valued at $2,375,000. Hedge funds and other institutional investors own 56.67% of the company’s stock.

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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