Virtu Financial (NASDAQ:VIRT) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Virtu Financial (NASDAQ:VIRT) from a hold rating to a sell rating in a research note released on Friday morning, 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. “

VIRT has been the topic of a number of other research reports. Rosenblatt Securities assumed coverage on shares of Virtu Financial in a research note on Wednesday, June 26th. They set a buy rating and a $29.00 target price on the stock. TheStreet lowered shares of Virtu Financial from a b rating to a c+ rating in a research note on Friday, May 3rd. ValuEngine lowered shares of Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. UBS Group dropped their price objective on shares of Virtu Financial from $36.00 to $32.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Finally, BidaskClub lowered shares of Virtu Financial from a sell rating to a strong sell rating in a research note on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $28.33.

Shares of VIRT opened at $22.51 on Friday. The company’s 50-day moving average is $21.75. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 3.02 and a beta of -0.60. 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 has a 1-year low of $19.85 and a 1-year high of $29.17.

Virtu Financial (NASDAQ:VIRT) last announced its 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). The company had revenue of $363.00 million for the quarter, compared to the consensus estimate of $245.86 million. Virtu Financial had a net margin of 7.56% and a return on equity of 19.13%. The company’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. As a group, sell-side analysts expect that Virtu Financial will post 1.48 earnings per share for the current fiscal year.

In other Virtu Financial news, EVP Stephen Cavoli sold 7,500 shares of Virtu Financial stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. 63.70% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Bangor Savings Bank raised its holdings in Virtu Financial by 24.9% in the second quarter. Bangor Savings Bank now owns 46,266 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 9,227 shares during the last quarter. Rothschild & Co. Asset Management US Inc. raised its holdings in Virtu Financial by 4.4% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 1,015,329 shares of the financial services provider’s stock worth $24,114,000 after buying an additional 42,517 shares during the last quarter. First Trust Advisors LP raised its holdings in Virtu Financial by 22.5% in the first quarter. First Trust Advisors LP now owns 470,760 shares of the financial services provider’s stock worth $11,181,000 after buying an additional 86,339 shares during the last quarter. Seacliff Capital LLC raised its holdings in Virtu Financial by 100.0% in the first quarter. Seacliff Capital LLC now owns 100,000 shares of the financial services provider’s stock worth $2,375,000 after buying an additional 50,000 shares during the last quarter. Finally, Kwmg LLC purchased a new position in Virtu Financial in the first quarter worth about $43,000. 56.83% of the stock is owned by institutional investors and hedge funds.

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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