Virtu Financial (NASDAQ:VIRT) Reaches New 52-Week High - What's Next?

Virtu Financial, Inc. (NASDAQ:VIRT) achieved a new 52-week high during midday trading on Thursday, reaching a price of $38.67. The stock last traded at $38.62, with a total of 499,708 shares exchanged, compared to a previous close of $37.41.

Analyst Ratings Changes

Virtu Financial has garnered attention from several analysts recently. Goldman Sachs raised its price target for Virtu from $26.00 to $29.00 and maintained a "neutral" rating on September 30th. Citigroup increased its target from $32.00 to $37.00 and rated the stock as a "buy" on October 9th. Conversely, Bank of America lowered its target from $37.00 to $35.00 but kept a "buy" rating as of October 3rd. Morgan Stanley also raised its price target from $23.00 to $25.00 and issued an "equal weight" rating on October 17th. Finally, Piper Sandler increased its target from $35.00 to $40.00, labeling the stock as "overweight" on January 7th. Overall, five research analysts suggest holding the stock, while three recommend buying it. MarketBeat.com indicates an average rating of "Hold" and a consensus target price of $30.21.

Virtu Financial Stock Performance

The company's market capitalization is currently $5.97 billion, with a price-to-earnings (P/E) ratio of 19.40 and a price/earnings to growth (PEG) ratio of 0.48. The stock has a beta of 0.45, reflecting lower volatility compared to the market. As for moving averages, its 50-day average stands at $36.39, while the 200-day average is $32.32. Financially, Virtu reported a quarterly earnings per share (EPS) of $0.82, surpassing the forecast of $0.79. The firm generated revenue of $388.00 million for the quarter, exceeding analyst expectations of $379.18 million. This marks a year-over-year revenue growth of 30.2%. In the previous year’s quarter, the business recorded an EPS of $0.40. Analysts expect Virtu Financial to report a forecast of 2.9 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

In addition to its stock performance, Virtu Financial announced a quarterly dividend, which was paid out on December 15th. Shareholders who were on record as of December 1st received a dividend of $0.24. The ex-dividend date was established as November 29th, leading to an annualized dividend of $0.96, reflecting a yield of 2.49%. The company's current dividend payout ratio is 48.24%.

Institutional Trading of Virtu Financial

Several institutional investors and hedge funds have recently adjusted their stake in Virtu Financial. Mercer Global Advisors Inc. ADV increased its holdings by 3.1% in the second quarter. Currently, it owns 19,421 shares valued at $436,000 after acquiring an additional 587 shares. Amalgamated Bank raised its stake by 125.4%, now holding 38,554 shares valued at $866,000 after purchasing an extra 21,450 shares last quarter. XTX Topco Ltd entered into a new position with shares valued at approximately $381,000. Sei Investments Co. raised its stake by 53.7%, now possessing 192,012 shares worth $4,311,000 after obtaining an additional 67,080 shares. Thrivent Financial for Lutherans boosted its holdings by 90.9%, acquiring 319,101 shares valued at $7,164,000. Institutional investors currently own 45.78% of Virtu Financial's stock.

About Virtu Financial

Virtu Financial, Inc. operates as a financial services company predominantly within the United States but also in regions like Asia Pacific, Canada, EMEA, and Ireland. The company operates in two main sectors—Market Making and Execution Services—offering products that include execution services, analytics, broker-neutral platforms, and multi-dealer platforms in workflow technology.

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