Virtu Financial (NASDAQ:VIRT) Upgraded to “Neutral” by JPMorgan Chase & Co.

Virtu Financial (NASDAQ:VIRT) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Tuesday, February 6th, Marketbeat Ratings reports. The brokerage presently has a $20.00 price objective on the financial services provider’s stock. JPMorgan Chase & Co.’s target price would indicate a potential downside of 29.70% from the company’s previous close.

A number of other analysts have also issued reports on VIRT. Sandler O’Neill set a $19.00 price target on Virtu Financial and gave the company a “buy” rating in a report on Tuesday, November 7th. TheStreet upgraded Virtu Financial from a “d+” rating to a “c-” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded Virtu Financial from a “strong sell” rating to a “hold” rating in a report on Saturday, January 20th. BidaskClub raised Virtu Financial from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Evercore ISI upped their price target on Virtu Financial from $17.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Virtu Financial has a consensus rating of “Hold” and an average price target of $18.63.

Virtu Financial (VIRT) traded up $0.05 during trading hours on Tuesday, reaching $28.45. The company’s stock had a trading volume of 1,239,500 shares, compared to its average volume of 748,005. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $5,316.76, a PE ratio of 127.73 and a beta of 0.43. Virtu Financial has a twelve month low of $13.10 and a twelve month high of $29.00.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, February 8th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.10. Virtu Financial had a return on equity of 12.23% and a net margin of 1.69%. The firm had revenue of $460.42 million for the quarter, compared to analysts’ expectations of $194.80 million. During the same period in the previous year, the firm posted $0.24 earnings per share. research analysts forecast that Virtu Financial will post 1.59 EPS for the current year.

Virtu Financial announced that its board has approved a share buyback plan on Thursday, February 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its holdings in Virtu Financial by 1.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,112 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 185 shares during the last quarter. Geode Capital Management LLC raised its holdings in Virtu Financial by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 340,781 shares of the financial services provider’s stock valued at $6,236,000 after acquiring an additional 3,462 shares during the last quarter. National Investment Services Inc. WI increased its holdings in shares of Virtu Financial by 2.6% during the 4th quarter. National Investment Services Inc. WI now owns 149,095 shares of the financial services provider’s stock worth $2,728,000 after buying an additional 3,788 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Virtu Financial by 73.2% during the 4th quarter. Penserra Capital Management LLC now owns 9,415 shares of the financial services provider’s stock worth $172,000 after buying an additional 3,979 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Virtu Financial by 9.2% during the 2nd quarter. Swiss National Bank now owns 65,600 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 5,500 shares during the last quarter. Institutional investors own 48.19% of the company’s stock.

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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.

Analyst Recommendations for Virtu Financial (NASDAQ:VIRT)

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