Virtu Financial (NASDAQ:VIRT) Cut to “Strong Sell” at BidaskClub

Virtu Financial (NASDAQ:VIRT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, May 7th, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Saturday, January 12th. UBS Group lowered their price target on shares of Virtu Financial from $36.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. ValuEngine upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Morgan Stanley set a $29.00 price objective on shares of Virtu Financial and gave the stock a “hold” rating in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $27.63.

VIRT traded down $0.44 during trading on Tuesday, hitting $22.76. 968,400 shares of the stock traded hands, compared to its average volume of 925,651. Virtu Financial has a twelve month low of $19.65 and a twelve month high of $31.65. The company has a market cap of $4.34 billion, a P/E ratio of 11.61, a P/E/G ratio of 3.00 and a beta of -0.71. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.67 and a quick ratio of 0.67.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The firm had revenue of $363.00 million for the quarter, compared to analyst estimates of $245.86 million. Virtu Financial had a net margin of 7.56% and a return on equity of 19.13%. The firm’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, analysts expect that Virtu Financial will post 1.52 earnings per share for the current fiscal year.

In related news, EVP Stephen Cavoli sold 7,500 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $23.48, for a total value of $176,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 63.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Virtu Financial during the 1st quarter worth about $807,000. M Holdings Securities Inc. bought a new position in shares of Virtu Financial during the 1st quarter worth about $2,375,000. Summit Trail Advisors LLC bought a new position in shares of Virtu Financial during the 1st quarter worth about $380,000. Morgan Stanley boosted its position in shares of Virtu Financial by 84.4% during the 1st quarter. Morgan Stanley now owns 345,604 shares of the financial services provider’s stock worth $8,209,000 after purchasing an additional 158,199 shares in the last quarter. Finally, Man Group plc boosted its position in shares of Virtu Financial by 878.6% during the 1st quarter. Man Group plc now owns 102,717 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 92,221 shares in the last quarter. 56.77% of the stock is currently owned by institutional investors and hedge funds.

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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