BlackRock Fund Advisors has recently announced that it has increased stake in Virtu Financial Inc. (NASDAQ:VIRT) by 11.14%. After grabbing 3.96 million shares, the institutional investor is now in possession of 0.4 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.97% having worth around $72.73 million.
Virtu Financial Inc. (VIRT) concluded trading on 03/16/23 at a closing price of $17.96, with 2.12 million shares of worth about $37.99 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -19.03% during that period and on Thursday the price saw a gain of about 1.01%. Currently the company’s common shares owned by public are about 99.49M shares, out of which, 96.90M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the VIRT stock and their offered price forecasts bring an average price target of $21.38. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $26.00 and could fall to a lowest price of $18.00. The stock’s current price level is 15.64% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.22% for the stock. However, touching the estimated high of $26.00 would mean a gain of 30.92% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 53 times over the past 12 months. They bought 447,413 shares in 29 of the transactions. In 24 selling transactions, insiders dumped 319,671 shares.
Capitol Series Trust – Fuller & T, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Virtu Financial Inc. Capitol Series Trust – Fuller & T is currently holding 3.46 million shares of worth totaling $63.61 million. The company recently came buying 0.0 shares which brought its stake up to 3.47% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 0.12 million shares, after which its hold over company’s outstanding shares expand to 2.93%, leaving 2.93 million shares with the mutual fund that have a worth of about $53.79 million. Vanguard Small Cap Index Fund, after buying 2.46 million shares, have now control over 2.46% of the stake in the company. It holds 74900.0 shares of worth $45.13 million.
Virtu Financial Inc. (NASDAQ: VIRT) started trading at $17.75, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 18.06, or with a gain of 1.01%. Stock saw a price change of 2.75% in past 5 days and over the past one month there was a price change of -10.38%. Year-to-date (YTD), VIRT shares are showing a performance of -12.00% which decreased to -47.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.26 but also hit the highest price of $38.63 during that period. The average intraday trading volume for Virtu Financial Inc. shares is 1.29 million. The stock is currently trading -3.63% below its 20-day simple moving average (SMA20), while that difference is down -8.00% for SMA50 and it goes to -17.74% lower than SMA200.
BlackRock Fund Advisors acquired 3.96 million shares of Virtu Financial Inc. having value of about $72.73 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.4 million shares in the company valued at close to $7122792.32, or have control over 11.14% stake in the company. Virtu Financial Inc. (NASDAQ: VIRT) currently have 99.49M outstanding shares and institutions hold larger chunk of about 93.20% of that. Holding of mutual funds in the company is about 43.63% while other institutional holders and individual stake holders have control over 47.56% and 102.23% of the stake respectively.
The stock has a current market capitalization of $3.16B and its 3Y-monthly beta is at 0.20. PE ratio of stock for trailing 12 months is 7.29, while it has posted earnings per share of $2.46 in the same period. It has a debt-to-equity ratio of 5.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VIRT, volatility over the week remained 4.66% while standing at 2.98% over the month.
Analysts are in expectations that Virtu Financial Inc. (VIRT) stock would likely to be making an EPS of $0.57 in the current quarter, while forecast for next quarter EPS is $0.58 and it is $2.61 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.47 which is $0.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.27 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -37.50% while it is estimated to increase by 13.32% in next year. EPS is likely to shrink at an annualized rate of -2.71% for next 5-years, compared to annual growth of 10.60% made by the stock over the past 5-years.
Analysts at 8 brokerage firms have issued recommendations for the Virtu Financial Inc. (VIRT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 8 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on January 12, 2023 offering a Neutral rating for the stock and assigned a target price of $22.50 to it. Coverage by Citigroup stated Virtu Financial Inc. (VIRT) stock as a Buy in their note to investors on October 12, 2022, suggesting a price target of $26 for the stock. On January 11, 2021, Morgan Stanley Downgrade their recommendations, while on November 09, 2020, Rosenblatt Upgrade their ratings for the stock with a price target of $28. Stock get a Hold rating from Loop Capital on September 11, 2020.
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