Stock to Watch: Virtu Financial, Inc. (NASDAQ: VIRT)

On Tuesday, Shares of Virtu Financial, Inc. (NASDAQ: VIRT) lost -0.94% to $26.35. The stock opened its trade at $26.65 and after floating in a price range of $26.20 to $27.00; the stock grabbed the investor’s attention and traded 1.01M shares as compared to its average daily volume of 1.35M shares. The stock’s institutional ownership stands at 82.50%.

Virtu Financial, Inc. (VIRT), a leading technology-enabled market maker and liquidity provider to the global financial markets, recently stated results for the first quarter ended March 31, 2018.

First Quarter Financial Results:

Total revenues increased 453.4% to $815.10M for this quarter, contrast to $147.30M for the same period in 2017. Trading income, net, increased 191.0% to $406.20M for this quarter, contrast to $139.60M for the same period in 2017. Net income increased 1,845.6% to $410.00M for this quarter, contrast to $21.10M for the same period in 2017. Basic and Diluted earnings per share for this quarter were $1.89 and $1.86, respectively, contrast to $0.10 each for the same period in 2017.

Adjusted Net Trading Income increased 314.0% to $340.30M for this quarter, contrast to $82.20M for the same period in 2017. Adjusted EBITDA increased 366.9% to $222.70M for this quarter, contrast to $47.70M for the same period in 2017. Normalized Adjusted Net Income increased 559.1% to $145.00M for this quarter, contrast to $22.00M for the same period in 2017.

Assuming all non-controlling interests had been exchanged for common stock, and the Company’s Normalized Adjusted Net Income before income taxes was subject to corporation taxation, Normalized Adjusted EPS was $0.76 for this quarter and $0.16 for the same period in 2017.

Financial Condition:

As of March 31, 2018, Virtu had $637.30M in cash and cash equivalents, and total long-term debt outstanding in an aggregate principal amount of $1.157B.

VIRT has a market value of $5.03B while its EPS was booked as $2.82 in the last 12 months. The stock has 190.77M shares outstanding. In the profitability analysis, the company has gross profit margin of 69.70% while net profit margin was 10.00%. Analyst recommendation for this stock stands at 2.40.

Hubert Smith

Hubert Smith

I am Hubert Smith and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind stocksmarketcap.com with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category.