BidaskClub Upgrades Virtu Financial (VIRT) to Buy
Virtu Financial (NASDAQ:VIRT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
A number of other research analysts have also recently issued reports on VIRT. Rosenblatt Securities reaffirmed a “neutral” rating and set a $18.00 price objective on shares of Virtu Financial in a research note on Tuesday, November 7th. Evercore ISI raised their target price on Virtu Financial from $17.00 to $18.00 and gave the stock an “in-line” rating in a research note on Tuesday, November 7th. Sandler O’Neill set a $19.00 target price on Virtu Financial and gave the stock a “buy” rating in a research note on Tuesday, November 7th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $13.00 target price on shares of Virtu Financial in a research note on Wednesday, November 8th. Finally, Goldman Sachs Group raised their target price on Virtu Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.63.
Virtu Financial (VIRT) opened at $28.45 on Tuesday. Virtu Financial has a 12 month low of $13.10 and a 12 month high of $29.00. The stock has a market capitalization of $5,340.00 and a PE ratio of 569.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.63 and a current ratio of 0.63.
Virtu Financial announced that its board has initiated a stock buyback program on Thursday, February 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of VIRT. North Island ManageCo LLC bought a new stake in shares of Virtu Financial in the fourth quarter worth about $733,173,000. Temasek Holdings Private Ltd boosted its position in Virtu Financial by 65.1% during the 3rd quarter. Temasek Holdings Private Ltd now owns 20,330,503 shares of the financial services provider’s stock valued at $329,354,000 after acquiring an additional 8,012,821 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in Virtu Financial by 103.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,747,766 shares of the financial services provider’s stock valued at $60,714,000 after acquiring an additional 1,909,864 shares in the last quarter. FMR LLC boosted its position in Virtu Financial by 39.9% during the 2nd quarter. FMR LLC now owns 2,215,100 shares of the financial services provider’s stock valued at $39,097,000 after acquiring an additional 631,431 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Virtu Financial during the 4th quarter valued at approximately $7,617,000. 48.19% of the stock is currently owned by institutional investors.
About Virtu Financial
Virtu Financial, Inc is a holding company. The Company is a technology-enabled market maker and liquidity provider to the financial markets across the world. It is engaged in buying or selling a range of securities and other financial instruments and earning small bid/ask spreads across various transactions.
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