Virtu Financial (VIRT) Announces Earnings Results, Misses Estimates By $0.06 EPS

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Virtu Financial (NASDAQ:VIRT) announced its earnings results on Friday. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06), MarketWatch Earnings reports. Virtu Financial had a net margin of 15.39% and a return on equity of 24.62%. The firm had revenue of $363.00 million for the quarter, compared to analysts’ expectations of $245.86 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue was down 55.5% compared to the same quarter last year.

Shares of NASDAQ VIRT traded down $0.76 during midday trading on Friday, hitting $23.24. 1,746,563 shares of the company’s stock were exchanged, compared to its average volume of 786,243. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.68 and a current ratio of 0.68. Virtu Financial has a twelve month low of $19.65 and a twelve month high of $35.84. The firm has a market capitalization of $4.41 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.93 and a beta of -0.71.

In other news, CEO Douglas A. Cifu sold 127,088 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $26.31, for a total transaction of $3,343,685.28. Following the sale, the chief executive officer now owns 138,544 shares of the company’s stock, valued at approximately $3,645,092.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 73.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Bank & Trust raised its position in shares of Virtu Financial by 3.3% during the 4th quarter. First Bank & Trust now owns 13,891 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 439 shares in the last quarter. Bangor Savings Bank raised its position in shares of Virtu Financial by 1.8% during the 1st quarter. Bangor Savings Bank now owns 37,039 shares of the financial services provider’s stock worth $880,000 after acquiring an additional 662 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Virtu Financial by 0.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 145,664 shares of the financial services provider’s stock worth $3,460,000 after acquiring an additional 952 shares in the last quarter. Advisor Group Inc. raised its position in shares of Virtu Financial by 12.6% during the 4th quarter. Advisor Group Inc. now owns 9,062 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 1,013 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Virtu Financial by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,585 shares of the financial services provider’s stock worth $821,000 after acquiring an additional 1,070 shares in the last quarter. 55.83% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $29.00 price objective on Virtu Financial and gave the company a “hold” rating in a research note on Friday, February 8th. BidaskClub cut Virtu Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Zacks Investment Research cut Virtu Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. ValuEngine cut Virtu Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Goldman Sachs Group upgraded Virtu Financial from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $29.36.

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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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Earnings History for Virtu Financial (NASDAQ:VIRT)

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