Virtu Financial (NASDAQ:VIRT) Stock Rating Reaffirmed by Piper Sandler

Virtu Financial (NASDAQ:VIRT)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They presently have a $35.00 price objective on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 13.01% from the company’s previous close.

Several other research firms have also commented on VIRT. Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America reduced their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. UBS Group raised their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Finally, Citigroup boosted their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Virtu Financial has a consensus rating of “Hold” and a consensus price target of $29.50.

Virtu Financial Stock Performance

VIRT stock opened at $30.97 on Thursday. The firm has a market cap of $4.87 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 0.38. Virtu Financial has a 12-month low of $16.02 and a 12-month high of $33.55. The stock’s 50 day simple moving average is $31.41 and its 200 day simple moving average is $26.48. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22.

Insiders Place Their Bets

In related news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 24,122 shares in the company, valued at $658,530.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in Virtu Financial during the 1st quarter worth $26,000. USA Financial Formulas acquired a new position in shares of Virtu Financial during the 3rd quarter worth about $33,000. International Assets Investment Management LLC bought a new position in shares of Virtu Financial in the 2nd quarter valued at about $39,000. Abich Financial Wealth Management LLC increased its position in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Virtu Financial in the 2nd quarter valued at about $46,000. Institutional investors own 45.78% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.