July 23, 2026 16:05 ET | Source: Virtu Financial, LLC
NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT) (the “Company”), a global market maker, broker and leading provider of global financial services technology, today announced that its subsidiaries successfully priced and closed incremental term loans in the amount of $500 million (the “Incremental Term Loans”), increasing the total term loan balance under its senior secured credit facility to $2,030 million (the “Term Loans”).
The Incremental Term Loan, along with the existing Term Loans, will bear interest at Term SOFR + 250 basis points, and will be issued at par.
The proceeds of the Incremental Term Loan may be used for general corporate purposes. The Term Loans are guaranteed by Virtu Financial LLC, a subsidiary of the Company, and certain of its subsidiaries.
About Virtu Financial, Inc.
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
This press release contains forward-looking statements. These forward-looking statements are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, as well as uncertainties relating to the Term Loans. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized.
The market expects Virtu Financial (VIRT - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis high-speed trading company is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +9.2%.
Revenues are expected to be $639.48 million, up 12.6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 9.64% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Virtu Financial?For Virtu Financial, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.25%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Virtu Financial will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Virtu Financial would post earnings of $1.66 per share when it actually produced earnings of $2.24, delivering a surprise of +34.94%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Virtu Financial appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Allspring Global Investments Holdings LLC boosted its holdings in shares of Virtu Financial, Inc. (NYSE:VIRT – Free Report) by 41.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,928,509 shares of the company’s stock after purchasing an additional 569,057 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.25% of Virtu Financial worth $85,607,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Algebris UK Ltd. bought a new stake in shares of Virtu Financial in the fourth quarter worth about $22,377,000. Stephens Investment Management Group LLC boosted its stake in Virtu Financial by 27.5% during the first quarter. Stephens Investment Management Group LLC now owns 516,366 shares of the company’s stock valued at $22,710,000 after buying an additional 111,437 shares during the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in Virtu Financial during the 4th quarter valued at approximately $2,489,000. Collar Capital Management LLC bought a new stake in Virtu Financial in the 4th quarter worth approximately $1,798,000. Finally, SG Americas Securities LLC increased its stake in Virtu Financial by 216.8% in the 4th quarter. SG Americas Securities LLC now owns 196,488 shares of the company’s stock worth $6,547,000 after acquiring an additional 134,462 shares during the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Virtu Financial In other Virtu Financial news, COO Brett Fairclough sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $50.06, for a total value of $1,501,800.00. Following the completion of the transaction, the chief operating officer directly owned 42,473 shares of the company’s stock, valued at approximately $2,126,198.38. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 46.76% of the company’s stock.
Virtu Financial Stock Performance Shares of VIRT stock opened at $55.78 on Friday. The business has a fifty day moving average of $57.14 and a 200 day moving average of $46.98. Virtu Financial, Inc. has a 1 year low of $31.55 and a 1 year high of $68.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.39 and a beta of 0.58.
Virtu Financial (NYSE:VIRT – Get Free Report) last posted its earnings results on Tuesday, July 14th. The company reported $1.82 earnings per share (EPS) for the quarter. Virtu Financial had a net margin of 14.17% and a return on equity of 51.63%. The company had revenue of $718.00 million during the quarter. Virtu Financial has set its Q2 2026 guidance at 1.820-1.820 EPS. As a group, research analysts expect that Virtu Financial, Inc. will post 6.26 earnings per share for the current year.
Virtu Financial Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, June 1st. Virtu Financial’s dividend payout ratio (DPR) is currently 15.89%.
Analyst Upgrades and Downgrades Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Virtu Financial from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. lifted their target price on Virtu Financial from $44.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Piper Sandler boosted their target price on Virtu Financial from $61.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Research lowered shares of Virtu Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Morgan Stanley raised their price objective on shares of Virtu Financial from $39.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Virtu Financial currently has an average rating of “Hold” and a consensus price target of $55.17.
Check Out Our Latest Research Report on Virtu Financial
Virtu Financial Company Profile (Free Report)
Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.
The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.
Recommended Stories Five stocks we like better than Virtu Financial AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident GE Aerospace Faces a Prove-It Moment in Q2 Earnings Want to see what other hedge funds are holding VIRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtu Financial, Inc. (NYSE:VIRT – Free Report).
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Stock to Watch: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
VIRT is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 8.9; value investors should take notice.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.47 to $6.69 per share. VIRT also boasts an average earnings surprise of +25.1%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, VIRT should be on investors' short list.
Here are three stocks with buy rank and strong value characteristics for investors to consider today, July 15:
Venture Global, Inc. (VG - Free Report) : This liquefied natural gas company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 9.8% over the last 60 days.
Venture Global has a price-to-earnings ratio (P/E) of 9.27, compared with 22.90 for the S&P 500. The company possesses a Value Score of A.
NGL Energy Partners LP (NGL - Free Report) : This company that transports, stores, markets, and disposes crude oil, natural gas liquids, and produced water carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.4% over the last 60 days.
NGL Energy has a price-to-earnings ratio (P/E) of 18.89, compared with 22.90 for the S&P 500. The company possesses a Value Score of B.
Virtu Financial, Inc. (VIRT - Free Report) : This financial services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 9% over the last 60 days.
Virtu has a price-to-earnings ratio (P/E) of 10.40, compared with 22.90 for the S&P 500. The company possesses a Value Score of B.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Learn more about the Value score and how it is calculated here.
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
BlackBerry Limited (BB - Free Report) : This software and services company has seen the Zacks Consensus Estimate for its next year earnings increasing 9.5% over the last 60 days.
NGL Energy Partners LP (NGL - Free Report) : This company that transports, stores, markets, and disposes crude oil, natural gas liquids, and produced water has seen the Zacks Consensus Estimate for its next year earnings increasing 20.4% over the last 60 days.
Venture Global, Inc. (VG - Free Report) : This liquefied natural gas company has seen the Zacks Consensus Estimate for its next year earnings increasing 9.8% over the last 60 days.
Forgent Power Solutions, Inc. (FPS - Free Report) : This designer of electrical distribution equipment and power infrastructure for data centers, utilities, and industrial facilities has seen the Zacks Consensus Estimate for its next year earnings increasing 8.7% over the last 60 days.
Virtu Financial, Inc. (VIRT - Free Report) : This financial services company has seen the Zacks Consensus Estimate for its next year earnings increasing 9% over the last 60 days.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NEW YORK--(BUSINESS WIRE)--BitGo Prime, LLC (“BitGo Prime”), a subsidiary of BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”), the digital asset infrastructure company, today announced the addition of Virtu Financial (NASDAQ: VIRT) (“Virtu”) to its global liquidity network, strengthening liquidity access and execution quality. Virtu is a leading provider of multi-asset liquidity and innovative, transparent products across the investment cycle to the global financial markets. BitGo Prime provides cli.
NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT) (the “Company”), a global market maker, broker and leading provider of global financial services technology, today announced preliminary estimates of its results of operations for the quarter ended June 30, 2026 in connection with the commencement of marketing of incremental term loans in the amount of $400 million (the “Incremental Term Loans”). The Incremental Term Loans would increase the total term loan balance under the Company’s senior secured credit facility to $1,930 million (the “Term Loans”).
Actual results for the second quarter 2026 are scheduled to be reported on July 30, 2026.
On a preliminary estimated basis:
Virtu expects its results of operations for the quarter ended June 30, 2026 to reflect:
Net income of $285 million; Normalized Adjusted Net Income1 of $292 millionBasic and diluted earnings per share of $1.63; Normalized Adjusted EPS1 of $1.82Trading income, net, of $857 million; Adjusted Net Trading Income1 of $718 million Average daily Adjusted NTI1 of $11.6 million Adjusted EBITDA1 of $437 million
Note 1: Non-GAAP financial measures. Please see “Non-GAAP Financial Measures and Other Items” for more information.
The preliminary financial and other data set forth above has been prepared by, and is the responsibility of our management. The foregoing information and estimates have not been compiled or examined by our independent registered public accounting firm nor have our independent registered public accounting firm performed any procedures with respect to this information or expressed any opinion or any form of assurance of such information. In addition, the foregoing information and estimates are subject to revision as we prepare our consolidated financial statements and other disclosures as of and for the three months ended June 30, 2026, including all disclosures required by U.S. GAAP. Because we have not completed our normal quarterly closing and review procedures for the three months ended June 30, 2026, and subsequent events may occur that require material adjustments to these results, the final results and other disclosures for the three months ended June 30, 2026, may differ materially from these estimates. These estimates should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP or as a measure of performance. In addition, these estimated results of operations for the three months ended June 30, 2026, are not necessarily indicative of the results to be achieved for any future period. See “Cautionary Note Regarding Forward-looking Statements” These estimated results of operations should be read together with subsequent filings and announcements, including any subsequent press release announcing the Company’s earnings for the quarter ended June 30, 2026, and our consolidated financial statements and related notes to be filed on Form 10-Q on or before August 10, 2026.
Non-GAAP Financial Measures and Other Items
To supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), we use the following non-GAAP measures of financial performance:
“Adjusted Net Trading Income”, which is the amount of revenue we generate from our market making activities, or trading income, net, plus commissions, net and technology services, plus interest and dividends income and expense, net, less direct costs associated with those revenues, including brokerage, exchange, clearance fees and payments for order flow, net. Management believes that this measurement is useful for comparing general operating performance from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance of our business, the use of Adjusted Net Trading Income is limited because it does not include certain material costs that are necessary to operate our business. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by revenues or expenses that are not directly associated with our core business activities.
“EBITDA”, which measures our operating performance by adjusting Net Income to exclude Financing interest expense on long-term borrowings, Debt issue cost related to debt refinancing, prepayment, and commitment fees, Depreciation and amortization, Amortization of purchased intangibles and acquired capitalized software, and Income tax expense, and “Adjusted EBITDA”, which measures our operating performance by further adjusting EBITDA to exclude severance, transaction advisory fees and expenses, termination of office leases, charges related to share-based compensation and other expenses, which includes reserves for legal matters, and Other, net, which includes gains and losses from strategic investments and the sales of businesses.
“Normalized Adjusted Net Income”, “Normalized Adjusted Net Income before income taxes”, “Normalized provision for income taxes”, and “Normalized Adjusted EPS”, which we calculate by adjusting Net Income to exclude certain items, and other non-cash items, assuming that all vested and unvested Virtu Financial Units have been exchanged for Class A Common Stock, and applying an effective tax rate, which was approximately 24%.
Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, and Normalized Adjusted EPS are non-GAAP financial measures used by management in evaluating operating performance and in making strategic decisions. Additional information provided regarding the breakdown of Total Adjusted Net Trading Income by category is also a non-GAAP financial measure but is not used by the Company in evaluating operating performance and in making strategic decisions. In addition, these non-GAAP financial measures or similar non-GAAP measures are used by research analysts, investment bankers and lenders to assess our operating performance. Management believes that the presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide useful information to investors regarding our results of operations because they assist both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide indicators of general economic performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period. Furthermore, our credit agreement contains tests based on metrics similar to Adjusted EBITDA. Other companies may define Adjusted Net Trading Income, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS differently, and as a result our measures of Adjusted Net Trading Income, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS may not be directly comparable to those of other companies. Although we use these non-GAAP financial measures as financial measures to assess the performance of our business, such use is limited because they do not include certain material costs necessary to operate our business.
Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS should be considered in addition to, and not as a substitute for, Net Income in accordance with U.S. GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS should not be construed as an indication that our future results will be unaffected by unusual or nonrecurring items. Adjusted Net Trading Income, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted EPS and our EBITDA-based measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S. GAAP. Some of these limitations are:
they do not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments;our EBITDA-based measures do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payment on our debt;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or require improvements in the future, and our EBITDA-based measures do not reflect any cash requirement for such replacements or improvements;they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows;they do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations; andthey do not reflect limitations on our costs related to transferring earnings from our subsidiaries to us. Because of these limitations, Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS are not intended as alternatives to Net Income as indicators of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. These U.S. GAAP measurements include Net Income, cash flows from operations and cash flow data. See below a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure.
Virtu Financial, Inc. and Subsidiaries
Reconciliation to Non-GAAP Operating Data (Unaudited)
The following tables reconcile Condensed Consolidated Statements of Comprehensive Income to arrive at Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS and selected Operating Margins.
Three Months Ended
June 30, Six Months Ended
June 30,(in millions, except for earnings per share)2026
2025
2026
2025
Reconciliation of Trading income, net to Adjusted Net Trading Income Trading income, net$857 $653 $1,646 $1,243 Commissions, net and technology services 180 154 366 305 Interest and dividends income 146 128 273 237 Brokerage, exchange, clearance fees and payments for order flow, net (259) (202) (398) (424)Interest and dividends expense (205) (165) (383) (297)Adjusted Net Trading Income$718 $568 $1,504 $1,065 Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Normalized Adjusted Net Income Net income 285 293 632 483 Financing interest expense on long-term borrowings 35 33 70 62 Debt issue cost related to debt refinancing, prepayment and commitment fees 1 2 3 3 Depreciation and amortization 18 16 35 32 Amortization of purchased intangibles and acquired capitalized software 12 12 24 24 Provision for income taxes 58 54 121 88 EBITDA$409 $409 $883 $692 Severance 1 3 4 5 Termination of office leases 1 — 1 — Gain on sale of RFQ-hub — (67) — (67)Other (8) 2 1 14 Share based compensation 33 23 68 44 Adjusted EBITDA$437 $369 $957 $689 Financing interest expense on long-term borrowings 35 33 70 62 Depreciation and amortization 18 16 35 32 Normalized Adjusted Net Income before income taxes$384 $321 $853 $595 Normalized provision for income taxes (1) 92 77 205 143 Normalized Adjusted Net Income$292 $244 $648 $453 Weighted Average Adjusted shares outstanding (2) 160 160 160 160 Normalized Adjusted EPS$1.82 $1.53 $4.06 $2.83 (1) Reflects U.S. federal, state, and local income tax rate applicable to corporations of approximately 24% for all periods presented.
(2) Assumes that (1) holders of all vested and unvested non-vesting Virtu Financial Units (together with corresponding shares of the Company’s Class C common stock, par value $0.00001 per share (the “Class C Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of Class A Common Stock on a one-for-one basis, (2) holders of all Virtu Financial Units (together with corresponding shares of the Company’s Class D common stock, par value $0.00001 per share (the “Class D Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of the Company’s Class B common stock, par value $0.00001 per share (the “Class B Common Stock”) on a one-for-one basis, and subsequently exercised their right to convert the shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis.
About Virtu Financial, Inc.
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not historical facts are forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, and if the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties, some or all of which are not predictable or within Virtu’s control, that could cause actual performance or results to differ materially from those expressed in the statements. Those risks and uncertainties include, without limitation: fluctuations in trading volume and volatilities in the markets in which we operate; the ability of our trading counterparties, clients, and various clearing houses to perform their obligations to us; the performance and reliability of our customized trading platform; the risk of material trading losses from our market making activities; swings in valuations in securities or other instruments in which we hold positions; increasing competition and consolidation in our industry; the risk that cash flow from our operations and other available sources of liquidity will not be sufficient to fund our various ongoing obligations, including operating expenses, short-term funding requirements, margin requirements, capital expenditures, debt service and dividend payments; regulatory and legal uncertainties and other potential changes associated with our industry, particularly in light of increased attention from media, regulators and lawmakers to market structure and related issues including but not limited to the retail trading environment, wholesale market making and off exchange trading more generally and payment for order flow arrangements; potential adverse results from legal or regulatory proceedings; our ability to remain technologically competitive and to ensure that the technology we utilize is not vulnerable to security risks, hacking and cyber-attacks; risks associated with third party software and technology infrastructure. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Virtu’s Securities and Exchange Commission filings, including but not limited to Virtu’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.
Investors interested in stocks from the Financial - Miscellaneous Services sector have probably already heard of Virtu Financial (VIRT) and Brookfield Asset Management (BAM). But which of these two stocks offers value investors a better bang for their buck right now?
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Virtu Financial (VIRT - Free Report) , which belongs to the Zacks Financial - Miscellaneous Services industry.
This high-speed trading company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 39.74%.
For the last reported quarter, Virtu Financial came out with earnings of $2.24 per share versus the Zacks Consensus Estimate of $1.66 per share, representing a surprise of 34.94%. For the previous quarter, the company was expected to post earnings of $1.28 per share and it actually produced earnings of $1.85 per share, delivering a surprise of 44.53%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Virtu Financial. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Virtu Financial currently has an Earnings ESP of +22.45%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on July 30, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
Bringing together a positive earnings ESP alongside a Zacks Rank #3 (Hold) or better has helped stocks report a positive earnings surprise 70% of the time. Furthermore, by using these parameters, investors have seen 28.3% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Virtu Financial?The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Virtu Financial (VIRT - Free Report) holds a #1 (Strong Buy) at the moment and its Most Accurate Estimate comes in at $1.92 a share 17 days away from its upcoming earnings release on July 30, 2026.
VIRT has an Earnings ESP figure of +22.45%, which, as explained above, is calculated by taking the percentage difference between the $1.92 Most Accurate Estimate and the Zacks Consensus Estimate of $1.57. Virtu Financial is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
VIRT is just one of a large group of Finance stocks with a positive ESP figure. Annaly Capital Management (NLY - Free Report) is another qualifying stock you may want to consider.
Slated to report earnings on July 21, 2026, Annaly Capital Management holds a #2 (Buy) ranking on the Zacks Rank, and its Most Accurate Estimate is $0.75 a share eight days from its next quarterly update.
For Annaly Capital Management, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.74 is +1.01%.
VIRT and NLY's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
July 09, 2026 11:31 ET | Source: Virtu Financial, LLC
NEW YORK, July 09, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE:VIRT), a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to the global markets, will announce its results for the second quarter of 2026 on Thursday, July 30, 2026, before the US market open.
Virtu will host a conference call to discuss the company's financial results at 7:00 AM (ET). A live webcast of the event will be available and archived on the Investor Relations section of the company's website at https://ir.virtu.com/events-presentations. The call will be open to the public.
About Virtu Financial, Inc.
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
Key Takeaways CPAY is growing through payment volume, revenue per transaction and acquisitions expanding its customer base.V is seeing momentum from payment volumes, AI-driven services, and fiscal 2026 low-teens revenue guidance.JPM plans $19.8B in 2026 tech spending as digital expansion and diversified businesses support growth. Financial technology (fintech) represents a transformative investment space in a hybrid sector merging finance and technology. The companies featured on the screen encompass a variety of services, such as online banking, peer-to-peer payments, insurance, cryptocurrency and cybersecurity.
Fintech's innovative nature positions it as a fascinating choice in the evolving financial landscape. With the expansion of mobile and broadband networks, fintech is poised for significant growth. The rise of artificial intelligence (AI) technologies and machine learning further revolutionizes banking, payments and investments, offering efficient and secure financial solutions.
At this stage, we recommend investing in five financial technology bigwigs to tap the digital finance revolution. These are: Corpay Inc. (CPAY - Free Report) , Jack Henry & Associates Inc. (JKHY - Free Report) , Visa Inc. (V - Free Report) , Virtu Financial Inc. (VIRT - Free Report) and JPMorgan Chase & Co. (JPM - Free Report) . Each of our picks currently carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past month.
Image Source: Zacks Investment Research
Corpay Inc.Zacks Rank #2 Corpay is a global commercial payments solution provider. Through its portfolio of brands, CPAY helps companies automate, secure, digitize and control payments to, or on behalf of, their employees and suppliers. CPAY serves businesses, partners and merchants in North America, Latin America, Europe and the Asia Pacific.
CPAY’s top line continues to grow organically, driven by increased volume and revenue per transaction from certain payment programs. CPAY relies on a multi-channel approach to actively market and sell its solutions to current and prospective customers. Acquisitions are CPAY’s way to boost its customer base.
Corpay has an expected revenue and earnings growth rate of 17.3% and 25.6%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 3.1% over the last 60 days.
Jack Henry & Associates Inc.Zacks Rank #2 Jack Henry & Associates is benefiting from rising services, support and processing revenues as clients migrate to private and public cloud. Cloud revenues are now about a third of total revenues, and recurring revenues remain the core mix. Growing digital, card and faster payment processing continues to lift transaction-based revenues.
Core win momentum and a higher mix of integrated trifecta deals are deepening JKHY’s client relationships and expanding wallet share. Management is expanding internal AI tools to support productivity and service.
Solid demand for the company’s AI-powered fraud detection platform is acting as a tailwind. JKHY’s growing initiatives to incorporate AI into select client solutions are expected to boost its revenues in the near term.
Jack Henry & Associates has an expected revenue and earnings growth rate of 5.9% and 4.1%, respectively, for the current year (ending June 2027). The Zacks Consensus Estimate for the current year’s earnings has improved 1.7% in the last 90 days.
Visa Inc.Zacks Rank #2 Visa’s scale and brand strength keep it at the center of global digital payments, with growth still driven by higher payment volumes, cross-border activity, and increasing transaction counts.
V’s fiscal second-quarter results showed broad momentum across consumer payments, commercial and money movement solutions, and value-added services. Management guides to low-teens revenue growth for fiscal 2026.
Investments in agentic commerce and stablecoin settlement, alongside targeted acquisitions and disciplined capital returns, should continue to extend its network value over time. With fraud cases on the rise and AI adoption increasing, V’s services are in high demand. Visa has embedded AI and generative AI into over 100 products, primarily for fraud prevention and cybersecurity.
Visa has an expected revenue and earnings growth rate of 13.4% and 14.2%, respectively, for the current year (ending September 2026). The Zacks Consensus Estimate for the current year’s earnings has improved 0.1% over the last 30 days.
Virtu Financial Inc.Zacks Rank #1 Virtu Financial is benefiting from an active trading backdrop that continues to support opportunity capture across equities, options, and other asset classes. VIRT is scaling its capital base and reinforcing returns by investing in technology and talent, which has supported higher daily adjusted net trading income through the cycle.
VIRT’s Execution Services is gaining relevance, extending diversification with expanding product penetration across workflow technology, algorithms, and capital markets activity. Balance sheet liquidity and disciplined leverage help fund reinvestment while supporting dividends and buybacks. VIRT continues to pay a quarterly dividend of 24 cents per share.
Virtu Financial has an expected revenue and earnings growth rate of 10.6% and 13.6%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 5.2% over the last 60 days.
JPMorgan Chase & Co.Zacks Rank #2 JPMorgan Chase’s consumer franchise keeps widening. The company, with is opening new branches in the United States and plans the Chase digital expansion in Europe following successful launches in the U.K. and Germany. JPM’s scale and diversified business mix continue to support earnings, with ongoing balance sheet growth and higher rates for a longer time to drive net interest income (NII) expansion.
JPM’s markets revenues and investment banking fees are likely to remain strong, and healthy asset management activity should continue to drive fee income. A strong liquidity profile supports enhanced dividends and buybacks, with room for selective dealmaking. JPM plans to allocate $19.8 billion toward tech initiatives in 2026. JPM’s efficient capital distributions reflect a solid capital position.
JPMorgan Chase has an expected revenue and earnings growth rate of 7.9% and 11.9%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.1% in the last seven days.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Virtu Financial, Inc. (NYSE: VIRT) breached their fiduciary duties to shareholders.
If you currently own Virtu stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].
Why Your Participation Matters:
Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
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Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
The Zacks Premium service, which provides daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter, makes these more manageable goals. All of the features can help you identify what stocks to buy, what to sell, and what are today's hottest industries.
Also included in Zacks Premium is the Focus List. This is a long-term portfolio of top stocks that have all the traits to beat the market.
Breaking Down the Zacks Focus ListIf you could get access to a curated list of stocks to kickstart your investment portfolio, wouldn't you jump at the chance to take a peek?
That's what the Zacks Focus List, a portfolio of 50 stocks, offers investors. Not only does it serve as a starting point for long-term investors, but all stocks included in the list are poised to outperform the market over the next 12 months.
What makes the Focus List even more helpful is that each selection is accompanied by a full Zacks Analyst Report, which explains the reasoning behind every stock's selection and why we believe it's a good pick for the long-term.
The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.
Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Earnings estimates, or expectations of growth and profitability, come from brokerage analysts who track publicly traded companies; these analysts work together with company management to analyze every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
What a company will earn down the road also needs to be taken into consideration, and this is why earnings estimate revisions are so important.
Stocks that receive upward earnings estimate revisions are more likely to receive even more upward changes in the future. For example, if an analyst raised their estimates last month, they're more likely to do it again this month, and other analysts are likely to do the same.
Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank, which is a unique, proprietary stock-rating model, employs earnings estimate revisions to make it easier to build a winning portfolio.
There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each one of these features is then given a raw score that's recalculated every night and compiled into the Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
On July 31, 2023, VIRT was added to the Focus List at $18.9 per share. Shares have increased 226.83% to $61.77 since then, and the company is a #1 (Strong Buy) on the Zacks Rank.
For fiscal 2026, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.58 to $6.51. VIRT boasts an average earnings surprise of 25.1%.
Moreover, analysts are expecting VIRT's earnings to grow 13.6% for the current fiscal year.
Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >>
NEW YORK--(BUSINESS WIRE)--On June 29, 2026, Grant & Eisenhofer P.A. filed a class action lawsuit on behalf of Aron Reynolds (“Plaintiff”) against Citadel Securities LLC (“Citadel”) and Virtu Americas LLC (“Virtu”) (together, the “Defendants”). The action alleges that Defendants defrauded investors by placing and executing manipulative trades designed to artificially deflate the price of Genius stock and also resulted in increased transaction costs for investors.
The lawsuit alleges that throughout the Class Period, Defendants Citadel Securities and Virtu Americas engaged in a manipulative and illegal trading practice known as “spoofing.”
Share The action is brought on behalf of all persons who purchased or otherwise acquired, or sold or otherwise disposed of, securities of Genius between April 12, 2022 and May 30, 2025, inclusive (the “Class Period”). The action, brought in the United States District Court for the Southern District of Florida, is captioned Aron Reynolds v. Citadel Securities LLC and Virtu Americas LLC, No. 1:26-cv-24485 (S.D. Fla.).
Citadel and Virtu are broker-dealers registered with the Securities and Exchange Commission and operate as major market makers, routinely placing and executing securities trades for investors as well as for their own trading accounts.
The complaint alleges violations of Sections 9(a) and 10(b) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants engaged in a manipulative and illegal trading practice known as “spoofing,” which involves submitting and then cancelling buy or sell orders without any genuine intent to execute them. The purpose of these “baiting orders” was to mislead other market participants about the true level of supply and demand for Genius securities, or about the stock’s price volatility, thereby influencing the market price of Genius to benefit Defendants’ own trading positions. The alleged manipulation also increased investors’ transaction costs by inflating the bid-ask spread for Genius stock. Defendants entered thousands of these baiting orders on U.S. stock exchanges to create the false impression that Genius’ stock price reflected genuine supply-and-demand and volatility dynamics, while simultaneously profiting by absorbing and reselling their customers’ order flow at prices favorable to Defendants.
Throughout the Class Period, sharp declines in Genius’ stock price consistently coincided with substantial spikes in Defendants’ spoofing activity. For example, during the week of February 10, 2025, Defendants built significant short positions in Genius stock and reaped substantial trading profits: Citadel traded more than 23 million shares of Genius off-exchange, accounting for nearly half of all off-exchange trading in the stock, while Virtu traded nearly 11 million shares, accounting for more than 20% of all off-exchange trading. Together, Defendants comprised nearly 70% of all off-exchange trading in Genius stock that week, as short volume surged from a low of 53% to more than 61%. As a result, Genius’ stock price decline by 22% despite the absence of any new material, company-specific news.
Investors who purchased or sold Genius securities during the Class Period are members of this proposed Class and may be able to seek appointment as lead plaintiff, which is a court-appointed representative of the Class, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(vi).
If you wish to serve as lead plaintiff, you must move the Court by no later than August 28, 2026. You do not need to seek to become a lead plaintiff in order to share in any possible recovery. You may also retain counsel of your choice to represent you in this action.
If you wish to discuss this action or have any questions concerning this notice or your rights, please contact Abe Alexander at Grant & Eisenhofer P.A. at 646-722-8500, or via email at [email protected].
Key Takeaways Virtu is benefiting from strong trading volumes and rising market participation.Execution Services growth is diversifying revenue beyond trading volatility.Upward earnings revisions and consistent beats support the bullish outlook. Virtu Financial, Inc. (VIRT - Free Report) , a leading financial services company, is well poised to grow on the back of its diversified business, a supportive trading environment and efficiency-improving efforts. Headquartered in New York, Virtu Financial has a market cap of $9.7 billion.
Its shares have returned 87.1% in the year-to-date period, outperforming both the industry and the S&P 500 Index. Over this timeframe, the industry declined 7.9%, and the S&P 500 Index gained 7.4%. The stock currently sports a Zacks Rank #1 (Strong Buy).
Encouraging Estimates for VIRTReflecting the positive sentiment around Virtu, the Zacks Consensus Estimate for 2026 earnings per share has seen five upward revisions and no downward movement. The consensus estimate for 2026 adjusted earnings for VIRT is currently pegged at $6.51 per share, indicating a 13.6% year-over-year growth. The consensus estimate for 2026 revenues suggests 10.6% year-over-year increase.
VIRT beat earnings estimates in each of the past four quarters, with an average surprise of 25.1%.
Growth DriversVirtu Financial benefits from higher trading activity as it provides liquidity and execution services across equities, options, fixed income, currencies and commodities markets. As market participation increases, the company typically generates stronger trading-related revenues. In the first quarter, commissions, net and technology services revenues rose 23.3% year over year to $186.6 million, while interest and dividend income increased 16.9% to $127.5 million.
At the same time, VIRT continues to diversify its revenue base beyond market volatility-driven trading activities by expanding its technology-enabled execution platform. The Execution Services segment delivered adjusted net trading income of $149.5 million in first-quarter 2026, up from $115.1 million in the prior-year period. Daily average contribution from the segment improved to $2.5 million. Growth was supported by demand for workflow technology, algorithmic trading solutions and at-the-market offerings, marking the eighth consecutive quarter of expansion for the business.
The company’s balance sheet continues to provide flexibility to reinvest and return capital. Virtu ended first-quarter 2026 with cash and cash equivalents of $973.2 million. Net Debt-to-EBITDA of 0.5 is lower than the industry average of 1.3.
Key RiskHowever, there is one factor that investors should keep an eye on.
Virtu Financial’s operating cash flow can fluctuate significantly from quarter to quarter due to changes in trading assets and liabilities, margin requirements and other working capital items, making cash generation less predictable. In the first quarter of 2026, the company used $0.1 million in operating activities, compared with net cash provided by operations of $15 million in the year-ago period.
Nevertheless, we believe that a systematic and strategic plan of action will drive this company’s growth in the long term.
Other Top-Ranked PlayersInvestors interested in the broader Finance space may look at some other top-ranked players like WisdomTree, Inc. (WT - Free Report) , Chime Financial, Inc. (CHYM - Free Report) and Bread Financial Holdings, Inc. (BFH - Free Report) , each carrying a Zacks Rank #2 (Buy) now. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for WisdomTree’s 2026 earnings indicates 32.6% year-over-year growth. During the past month, WT has witnessed one upward estimate revision against none in the opposite direction. It beat earnings estimates thrice in the past four quarters and met once, with an average surprise of 10.9%.
The Zacks Consensus Estimate for Chime Financial’s current-year earnings is pegged at 30 cents per share, which indicates a 107% year-over-year improvement. It witnessed seven upward estimate revisions in the past 60 days against no downward movement. The consensus mark for CHYM’s current year revenues suggests a 22.6% surge from a year ago.
The Zacks Consensus Estimate for Bread Financial’s current-year earnings increased 2.1% over the past 60 days. During this time, BFH has witnessed three upward estimate revisions against none in the opposite direction. The consensus mark for current-year revenues is pegged at $3.94 billion, indicating a 2.5% increase from a year ago.
Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
One of our most popular services, Zacks Premium offers daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All are useful tools to find what stocks to buy, what to sell, and what are today's hottest industries.
It also includes the Focus List, a long-term portfolio of top stocks that have all the elements to beat the market.
Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?
That's what the Zacks Focus List offers. It's a portfolio of 50 stocks that serve as a starting point for long-term investors to build their individual portfolios. The stocks included in the list are set to outperform the market over the next 12 months.
What makes the Focus List even more helpful is that each selection is accompanied by a full Zacks Analyst Report, which explains the reasoning behind every stock's selection and why we believe it's a good pick for the long-term.
The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.
Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Earnings estimates, or expectations of growth and profitability, come from brokerage analysts who track publicly traded companies; these analysts work together with company management to analyze every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
Investors also need to look at what a company will earn down the road. This is why earnings estimate revisions are so important.
Stocks that receive upward earnings estimate revisions are more likely to receive even more upward changes in the future. For example, if an analyst raised their estimates last month, they're more likely to do it again this month, and other analysts are likely to do the same.
Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank is a unique, proprietary stock-rating model that utilizes changes to a company's quarterly earnings expectations to help investors build a winning portfolio.
Four primary factors make up the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each is given a raw score that's recalculated every night and compiled into the Rank, and with this data, stocks are then classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Since stock prices respond to revisions, it can be very profitable to buy stocks with rising earnings estimates. By buying Focus List stocks, then, you're likely getting into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
Since being added to the Focus List on July 31, 2023 at $18.9 per share, shares of VIRT have increased 233.7% to $63.07. The stock is currently a #1 (Strong Buy) on the Zacks Rank.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.3 to $6.51. VIRT boasts an average earnings surprise of 25.1%.
Earnings for VIRT are forecasted to see growth of 13.6% for the current fiscal year as well.
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NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, today reported results for the first quarter ended March 31, 2026.
Virtu Financial (VIRT - Free Report) came out with quarterly earnings of $2.24 per share, beating the Zacks Consensus Estimate of $1.66 per share. This compares to earnings of $1.3 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +35.21%. A quarter ago, it was expected that this high-speed trading company would post earnings of $1.28 per share when it actually produced earnings of $1.85, delivering a surprise of +44.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Virtu Financial, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $786.53 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 37.50%. This compares to year-ago revenues of $497.14 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Virtu Financial shares have added about 46.8% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Virtu Financial?While Virtu Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Virtu Financial was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.22 on $515.15 million in revenues for the coming quarter and $5.62 on $2.05 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Orion Digital Corp. (ORIO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -75%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Orion Digital Corp.'s revenues are expected to be $12.43 million, up 3% from the year-ago quarter.
After reaching an important support level, Virtu Financial (VIRT) could be a good stock pick from a technical perspective. VIRT surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
On April 29, 2026, Virtu Financial Inc VIRT shares rose 3.9% to $50.82. The stock has shown strong price performance with a 52-week high of $52.21 and a low of $31.55.
GF Value™ verdict: Current price of $50.82 is 53.5% above the GF Value™ estimate of $33.10.GF Score™ is 74/100, indicating an Above Average ranking in terms of potential for long-term returns.Notable signal: Insiders have sold $11.7 million in stock over the past three months, with no insider buying reported. Is VIRT Overvalued or Undervalued? Based on the current price of $50.82 and the GF Value™ estimate of $33.10, Virtu Financial Inc appears to be significantly overvalued, presenting a margin of safety of -53.5%. The GF Valuation label of 'Significantly Overvalued' reinforces this assessment, suggesting that the current market price does not reflect the intrinsic value of the company. This overvaluation indicates potential risks for investors, as market corrections could lead to a decline in stock price as it realigns with its intrinsic value.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the substantial gap between the current market price and the estimated fair value, investors may want to approach this stock with caution, as the risk of a price correction could be significant.
How Does VIRT's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 9.9x 9.3x Forward P/E 9.0x N/A The current P/E ratio of 9.9x is 6% above its 5-year median P/E of 9.3x, indicating that the stock is trading at a premium relative to its historical valuation. This P/E analysis aligns with the GF Value™ verdict of overvaluation, further suggesting that the current market price may not be justified by the company's earnings potential.
What Does VIRT's GF Score™ Tell Us? Metric Rating GF Score™ 74 Financial Strength 3/10 Profitability 8/10 Growth 5/10 Valuation 3/10 Momentum 9/10 The GF Score™ of 74 indicates that Virtu Financial Inc possesses an Above Average ranking in terms of potential long-term returns. The strongest area is its Profitability rank at 8/10, suggesting solid earnings performance. However, the weakest point is its Financial Strength, with a rating of 3/10, indicating potential vulnerabilities in its financial structure. The Momentum rank of 9/10 highlights positive price performance trends, but the lower Valuation rank suggests caution regarding the current market price.
What Are Insiders Doing with VIRT Stock? In the last three months, insiders at Virtu Financial Inc have sold a total of $11.7 million worth of shares, with no reported insider buying. This pattern of selling may indicate a lack of confidence among insiders regarding the stock's future performance at its current valuation level. While insider selling can occur for various reasons, the absence of buying raises concerns about the company's prospects from the perspective of those closest to its operations.
What This Means for Investors Based on the GF Value™ analysis, Virtu Financial Inc is currently overvalued. The significant gap between the current price and the estimated fair value indicates potential risks for investors, as the stock may be susceptible to correction in alignment with its intrinsic value.
For the complete analysis, visit the Virtu Financial Inc VIRT stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is VIRT's GF Score™?
The GF Score™ for Virtu Financial Inc is 74/100, indicating an Above Average ranking based on key aspects of financial performance and potential for long-term returns.
Is VIRT overvalued or undervalued?
Virtu Financial Inc is currently overvalued, with a market price that is 53.5% above its GF Value™ estimate of $33.10.
What is VIRT's P/E ratio?
Virtu Financial Inc has a P/E ratio of 9.9x, which is above its 5-year median P/E of 9.3x, suggesting that it is trading at a premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
NEW YORK, May 05, 2026 (GLOBE NEWSWIRE) -- zerohash, the leading digital asset infrastructure platform powering crypto, stablecoin, and tokenization capabilities for financial institutions, today announced that Virtu Financial, a global market maker and liquidity provider across equities, options, fixed income, FX, and digital assets, has joined the zerohash liquidity ecosystem as a market-making partner.
Through this partnership, Virtu now provides liquidity across zerohash’s full liquidity stack, including its central limit order book and RFQ (Request for Quote) systems. The integration further enhances existing pricing depth, execution quality, and market stability for zerohash’s partners, which include broker-dealers, banks, fintech platforms, and payment providers.
Virtu is one of the world’s largest market makers, known for its deep expertise in providing continuous, two-sided liquidity across asset classes. Its participation in zerohash’s liquidity ecosystem reinforces the convergence between traditional financial market structure and digital asset infrastructure.
As digital asset adoption accelerates among retail and institutional investors, execution quality has become a critical differentiator. By integrating Virtu’s liquidity into its platform, zerohash continues to strengthen its ability to deliver deeper liquidity and tighter spreads, as well as more consistent execution during volatile markets.
For zerohash partners, this translates directly into better trading experiences for end customers without additional operational complexity.
“zerohash is the leading infrastructure to financial institutions and enterprises, including Interactive Brokers, Morgan Stanley, Public.com and tastytrade. The partnership further underscores zerohash’s continued focus on delivering the best and most reliable pricing to customers,” said Edward Woodford, Founder and CEO of zerohash.
“The adoption of digital assets by the broader financial ecosystem continues to take form quicker than most anticipated,” said Scotte Moegling, Head of Business Development for Digital Assets at Virtu Financial. “We are pleased to partner with zerohash, one of the leading crypto venues, as we bring our market making expertise via quality pricing and execution to a growing network of financial institutions.”
About zerohash
zerohash is the leading infrastructure provider for crypto, stablecoin, and tokenized assets. Its API and embeddable dev-kit enable innovators to easily launch solutions across cross-border payments, commerce, trading, remittance, payroll, tokenization, and on/off-ramps. The company has a global regulatory footprint across the EU, Latin America, Australia, New Zealand, Bermuda, and the U.S., and operates regulated entities in 51 U.S. jurisdictions. For more information, visit zerohash.com.
Disclosures: zerohash services and product offerings may not be available in all jurisdictions. zerohash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. zerohash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. zerohash is not registered with the SEC or FINRA.
About Virtu Financial
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
Virtu Financial's Q1 EPS jumps 72% y/y and crushes estimates as Execution Services and Market Making surge, boosting trading income despite higher costs.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
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What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.93% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
VIRT is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 8; value investors should take notice.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.64 to $6.33 per share. VIRT boasts an average earnings surprise of +25.1%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, VIRT should be on investors' short list.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
VIRT is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Finance stock. VIRT has a Momentum Style Score of A, and shares are up 2.6% over the past four weeks.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.64 to $6.33 per share. VIRT boasts an average earnings surprise of +25.1%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, VIRT should be on investors' short list.
Investors interested in stocks from the Financial - Miscellaneous Services sector have probably already heard of Virtu Financial (VIRT) and Circle Internet Group, Inc. (CRCL). But which of these two stocks presents investors with the better value opportunity right now?
On May 13, 2026, Virtu Financial Inc VIRT shares rose 3.4% today, reflecting a strong performance within a volatile market. The stock has traded between a 52-week low of $31.55 and a high of $53.75, demonstrating significant fluctuations in investor sentiment over the past year.
GF Value™ verdict: The current price of $53.59 is 34.7% above the GF Value™ estimate of $39.77, indicating that the stock is overvalued.GF Score™ of 78/100 suggests that Virtu Financial is in the above-average category, which may indicate potential for long-term returns.Notable signal: Insiders sold $13.3 million worth of shares in the last three months, which could suggest a lack of confidence in the stock's near-term performance. Is VIRT Overvalued or Undervalued? Based on the current price of $53.59 compared to the GF Value™ of $39.77, Virtu Financial appears to be significantly overvalued with a margin of safety of approximately 34.7%. This overvaluation is further supported by the GF Valuation label, which categorizes the stock as "Significantly Overvalued." The significant disparity between the market price and the GF Value™ suggests that investors may be paying a premium for the stock that does not align with its intrinsic value. This could pose a risk, as overvalued stocks may face downward pressure if market sentiment shifts or if the company does not meet growth expectations.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current economic landscape and the company's performance metrics, the risk of holding an overvalued stock like Virtu Financial should be carefully considered.
How Does VIRT's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 8.9x 9.1x Forward P/E 8.2x N/A The current P/E (TTM) of 8.9x is slightly below its 5-year median P/E of 9.1x, while the forward P/E of 8.2x indicates that analysts expect a modest decrease in earnings relative to the current price. This P/E analysis suggests that the stock is trading slightly below its historical valuation, which may seem contradictory to the GF Value™ verdict that indicates significant overvaluation. However, it is essential to consider that price-to-earnings ratios alone do not capture the full picture of a stock's value. Thus, while the P/E ratios provide some context, they do not diminish the concerns raised by the GF Value™ assessment.
What Does VIRT's GF Score™ Tell Us? Metric Rating GF Score™ 78/100 Financial Strength 3/10 Profitability 8/10 Growth 5/10 Valuation 5/10 Momentum 9/10 The GF Score™ of 78/100 indicates that Virtu Financial is positioned in the above-average category regarding potential long-term returns. The strongest area for the company is its profitability rank of 8/10, which suggests effective management and consistent earnings generation. Conversely, the financial strength score of 3/10 is the weakest aspect, indicating potential vulnerabilities in the company's balance sheet or overall financial health. The growth and valuation ranks of 5/10 reflect a moderate outlook, while the momentum rank of 9/10 highlights the recent positive price action, which may attract short-term traders.
What Are Insiders Doing with VIRT Stock? In the last three months, insiders have sold $13.3 million worth of Virtu Financial shares without any reported purchases. This pattern of selling could suggest that those closest to the company may lack confidence in its future performance or believe that the stock price has peaked. Such insider activity can often be a red flag for investors, indicating a potential disconnect between management's outlook and market sentiment. Without any buying activity from insiders, it raises questions about their confidence in the company's growth prospects.
What This Means for Investors Based on the GF Value™ assessment, Virtu Financial Inc VIRT is currently overvalued at a price of $53.59 compared to a fair value estimate of $39.77. While the stock has demonstrated strong momentum and profitability, the significant overvaluation signals potential risks for investors. Caution is advised when considering exposure to this stock in the current market environment.
For the complete analysis, visit the Virtu Financial Inc VIRT stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is VIRT's GF Score™?
VIRT has a GF Score™ of 78/100, indicating that it is in the above-average category for potential long-term returns based on various financial metrics.
Is VIRT overvalued or undervalued?
VIRT is currently overvalued, as its price of $53.59 is significantly above the GF Value™ estimate of $39.77, suggesting a 34.7% overvaluation.
What is VIRT's P/E ratio?
VIRT's P/E (TTM) is 8.9x, which is slightly below its 5-year median P/E of 9.1x, indicating that the stock is trading at a lower multiple compared to its historical averages.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
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Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Earnings estimates, or expectations of growth and profitability, come from brokerage analysts who track publicly traded companies; these analysts work together with company management to analyze every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
Earnings estimate revisions are very important, since investors also need to take into consideration what a company will earn in the future.
The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.
Utilizing the power of earnings estimate revisions is when the Zacks Rank joins the party. A unique, proprietary stock-rating model, the Zacks Rank uses changes to quarterly earnings expectations to help investors create a winning portfolio.
There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each one of these features is then given a raw score that's recalculated every night and compiled into the Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
On July 31, 2023, VIRT was added to the Focus List at $18.9 per share. Shares have increased 190.95% to $54.99 since then, and the company is a #1 (Strong Buy) on the Zacks Rank.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $1.63 to $6.32. VIRT also boasts an average earnings surprise of 25.1%.
Earnings for VIRT are forecasted to see growth of 10.3% for the current fiscal year as well.
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Investors might want to bet on Virtu Financial (VIRT - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this high-speed trading company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Virtu Financial, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe earnings estimate of $1.49 per share for the current quarter represents a change of -2.6% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Virtu Financial has increased 24.72% because four estimates have moved higher compared to no negative revisions.
Current-Year Estimate RevisionsThe company is expected to earn $6.32 per share for the full year, which represents a change of +10.3% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Virtu Financial. Over the past month, five estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 16.95%.
Favorable Zacks RankThanks to promising estimate revisions, Virtu Financial currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineWhile strong estimate revisions for Virtu Financial have attracted decent investments and pushed the stock 7.6% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
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Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?
That's what the Zacks Focus List, a portfolio of 50 stocks, offers investors. Not only does it serve as a starting point for long-term investors, but all stocks included in the list are poised to outperform the market over the next 12 months.
Additionally, each selection is accompanied by a full Zacks Analyst Report, something that makes the Focus List even more valuable. The report explains in detail why each stock was picked and why we believe it's good for the long-term.
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Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Earnings estimates are expectations of growth and profitability, and are determined by brokerage analysts. Together with company management, these analysts examine every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
Earnings estimate revisions are very important, since investors also need to take into consideration what a company will earn in the future.
Stocks that receive upward earnings estimate revisions are more likely to receive even more upward changes in the future. For example, if an analyst raised their estimates last month, they're more likely to do it again this month, and other analysts are likely to do the same.
Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank, which is a unique, proprietary stock-rating model, employs earnings estimate revisions to make it easier to build a winning portfolio.
Four primary factors make up the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each is given a raw score that's recalculated every night and compiled into the Rank, and with this data, stocks are then classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
On July 31, 2023, VIRT was added to the Focus List at $18.9 per share. Shares have increased 177.62% to $52.47 since then, and the company is a #1 (Strong Buy) on the Zacks Rank.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.58 to $6.32. VIRT boasts an average earnings surprise of 25.1%.
Additionally, VIRT's earnings are expected to grow 10.3% for the current fiscal year.
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Investors interested in stocks from the Financial - Miscellaneous Services sector have probably already heard of Virtu Financial (VIRT - Free Report) and American Express (AXP - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Right now, Virtu Financial is sporting a Zacks Rank of #1 (Strong Buy), while American Express has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that VIRT likely has seen a stronger improvement to its earnings outlook than AXP has recently. However, value investors will care about much more than just this.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
VIRT currently has a forward P/E ratio of 8.21, while AXP has a forward P/E of 17.67. We also note that VIRT has a PEG ratio of 1.15. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. AXP currently has a PEG ratio of 1.26.
Another notable valuation metric for VIRT is its P/B ratio of 3.66. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, AXP has a P/B of 6.24.
These metrics, and several others, help VIRT earn a Value grade of B, while AXP has been given a Value grade of C.
VIRT has seen stronger estimate revision activity and sports more attractive valuation metrics than AXP, so it seems like value investors will conclude that VIRT is the superior option right now.
On May 27, 2026, Virtu Financial Inc VIRT shares fell 3.9% today, closing at $49.90. The stock has experienced a 52-week range between $31.55 and $56.48, highlighting significant volatility over the past year.
GF Value™ verdict: Current price $49.90 vs GF Value™ of $39.06, indicating the stock is 27.8% overvalued.GF Score™: 71/100, which is considered above average, suggesting decent overall performance relative to peers.Most notable signal: Recent insider activity shows that insiders sold $1.7M worth of shares in the last 3 months, indicating a lack of buying interest. Is VIRT Overvalued or Undervalued? With a current price of $49.90 and a GF Value™ of $39.06, Virtu Financial Inc is assessed as overvalued by approximately 27.8%. This significant gap indicates that the market price exceeds the intrinsic value calculated through GF Value™. Investors should be cautious as this overvaluation suggests that the stock may be at risk of a price correction, particularly given the modestly overvalued label associated with its GF Valuation. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
The margin of safety is important in investment decisions, and currently, there is none for VIRT investors, as the share price is substantially above the calculated fair value. This suggests that potential investors may want to consider waiting for a more attractive entry point before committing capital to the stock.
How Does VIRT's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)8.3x9.1x Forward P/E7.6xN/A Currently, VIRT's P/E (TTM) is 8.3x, which is 10% below its 5-year median P/E of 9.1x. The forward P/E of 7.6x also suggests that the stock is trading below its historical valuation levels. This P/E analysis supports the GF Value™ verdict of overvaluation, indicating that the stock may not provide sufficient value at its current price level compared to historical norms.
What Does VIRT's GF Score™ Tell Us? MetricRating GF Score™71 Financial Strength3/10 Profitability8/10 Growth3/10 Valuation5/10 Momentum9/10 The GF Score™ of 71/100 for Virtu Financial indicates that the company has a solid performance in profitability and momentum, ranking 8/10 and 9/10 respectively. However, it lags in financial strength and growth, with scores of 3/10. This mixed scoring indicates that while the company is generating profits and experiencing positive momentum, it may not be solidly positioned financially and lacks robust growth prospects, which could impact its long-term sustainability.
What Are Insiders Doing with VIRT Stock? In the last three months, insiders at Virtu Financial have sold approximately $1.7 million worth of shares, with no reported insider buying. This trend of selling, without accompanying purchases, can suggest a lack of confidence from those closest to the company regarding its future price performance. Such behavior often raises red flags for potential investors, as it may indicate that insiders believe the stock is currently overvalued.
What This Means for Investors Based on the GF Value™ assessment, Virtu Financial Inc is currently overvalued. The significant distance between the current stock price and the GF Value™ suggests caution for potential investors, as the risk of a price correction looms with such a high overvaluation percentage. It may be prudent to monitor the stock closely for any signs of a more attractive entry point in the future.
For the complete analysis, visit the Virtu Financial Inc VIRT stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is VIRT's GF Score™?
The GF Score™ for Virtu Financial is 71/100, indicating that the stock is above average based on key performance metrics, suggesting potential for higher long-term returns.
Is VIRT overvalued or undervalued?
Virtu Financial is currently overvalued, with a GF Value™ of $39.06 compared to its market price of $49.90, presenting a 27.8% overvaluation.
What is VIRT's P/E ratio?
VIRT's P/E (TTM) is 8.3x, which is below its 5-year median P/E of 9.1x, supporting the assessment of its current overvaluation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
A month has gone by since the last earnings report for Virtu Financial (VIRT - Free Report) . Shares have lost about 1.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Virtu Financial due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
VIRT Beats Q1 Earnings Estimates on Execution Services Unit Strength
Virtu Financial reported first-quarter adjusted earnings per share (EPS) of $2.24, which beat the Zacks Consensus Estimate by 34.9%. The bottom line increased 72.3% year over year.
Adjusted Net Trading Income rose 58.2% year over year to $786.5 million, surpassing the consensus estimate by 37.5%.
The strong quarterly results can be attributed to the improved commissions and technology services revenues. Strong performance in both the Market Making and Execution Services segments, driven by increased trading activity, also contributed to the upside. However, an increased expense level partially offset the positives.
Virtu Financial’s Q1 Performance DetailsRevenues from commissions, net and technology services rose 23.3% year over year to $186.6 million. The metric beat the Zacks Consensus Estimate and our model estimate of $163.2 million.
Interest and dividend income of $127.5 million increased 16.9% year over year but missed both the Zacks Consensus Estimate and our estimate of $128.6 million.
Adjusted EBITDA increased 62.7% year over year to $520.6 million. Adjusted EBITDA margin improved year over year to 66.2% from 64.4% a year ago.
Total operating expenses rose 11.7% year over year to $685.8 million, but were lower than our estimate of $771.7 million. The increase was due to higher costs related to communication and data processing, as well as employee compensation and payroll taxes.
Q1 Segmental UpdateMarket Making: Adjusted net trading income totaled $637.1 million in the first quarter, climbing 66.8% year over year. The metric surpassed the Zacks Consensus Estimate of $446 million. The unit’s revenues increased 32.5% year over year to $915.7 million, beating both the Zacks Consensus Estimate and our estimate of $815.6 million.
Execution Services: The unit recorded adjusted net trading income of $149.5 million in the quarter under review, representing an increase of 29.8% year over year. The metric surpassed the Zacks Consensus Estimate of $126 million and our estimate of $125.1 million. The unit’s total revenues rose 32.7% year over year to $187.1 million, beating both the consensus estimate and our estimate of $156.6 million.
Financial Update (As of March 31, 2026)Virtu Financial ended the first quarter with cash and cash equivalents of $973.2 million, down 8.3% from the 2025 year-end level. Total assets increased to $25.1 billion from $20.2 billion at the end of 2025.
Long-term borrowings, net, amounted to $2 billion, down 0.7% from the figure as of Dec. 31, 2025. Short-term borrowings totaled $155 million.
Total equity of $2.2 billion was up from the 2025-end level of $2 billion.
Share Repurchase & Dividend UpdateVirtu Financial did not buy back shares in the first quarter of 2026. It announced a quarterly cash dividend of 24 cents per share, payable on June 15, 2026, to its shareholders of record as of June 1.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 24.72% due to these changes.
VGM ScoresAt this time, Virtu Financial has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Virtu Financial has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerVirtu Financial belongs to the Zacks Financial - Miscellaneous Services industry. Another stock from the same industry, Bread Financial Holdings (BFH - Free Report) , has gained 4.3% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
Bread Financial reported revenues of $1.02 billion in the last reported quarter, representing a year-over-year change of +4.9%. EPS of $4.18 for the same period compares with $2.86 a year ago.
For the current quarter, Bread Financial is expected to post earnings of $2.49 per share, indicating a change of -20.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.8% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Bread Financial. Also, the stock has a VGM Score of C.
Azora Capital disclosed a new stake in Virtu Financial (VIRT +2.60%) in its May 15, 2026, SEC filing, acquiring 1,880,990 shares in a transaction estimated at $73.26 million based on the quarterly average price.
What happenedAccording to its SEC filing dated May 15, 2026, Azora Capital initiated a new position in Virtu Financial, buying 1,880,990 shares. The estimated transaction value, calculated using the average closing price during the quarter, was $73.26 million. The quarter-end value of the stake was $82.73 million, a figure that reflects both the shares acquired and price movement within the period.
This was a new position for Azora Capital LP, now representing 5.44% of its reportable U.S. equity AUM.Top holdings after the filing:NASDAQ:LPLA: $128.56 million (8.45% of AUM)NYSE:BEN: $120.46 million (7.92% of AUM)NASDAQ:VLY: $109.89 million (7.23% of AUM)NYSE:BBT: $94.14 million (6.19% of AUM)NASDAQ:IBOC: $88.33 million (5.81% of AUM)As of Friday, Virtu Financial shares were priced at $50.15, up about 23% over the past year, compared to a 28% gain for the S&P 500.Company OverviewMetricValueRevenue (TTM)$3.89 billionNet Income (TTM)$550.99 millionDividend Yield2%Price (as of Friday)$50.15Company SnapshotVirtu Financial provides data, analytics, and connectivity products, including execution, liquidity sourcing, and multi-asset trading platforms across global equities, ETFs, FX, futures, fixed income, and cryptocurrencies.The firm operates a two-segment business model: Market Making and Execution Services, generating revenue through trading activity and technology-driven execution solutions.It serves institutional clients and professional investors worldwide seeking advanced trading, risk management, and analytics solutions.Virtu Financial, Inc. is a leading global provider of financial technology and market-making services, leveraging advanced analytics and workflow solutions to facilitate efficient trading across multiple asset classes. The company’s scale and technology-driven approach enable it to deliver consistent liquidity and execution quality for institutional clients. Virtu’s diversified revenue streams and robust platform position it competitively within the capital markets sector.
What this transaction means for investorsVirtu's business tends to thrive when trading activity picks up, and Azora might be making a bet on market volatility lingering around. As evidence of that, for the first quarter, Virtu reported revenue of $1.1 billion, up 31% year over year, while net income surged 83% to $346.6 million.
Management also continued returning capital to shareholders, declaring a quarterly dividend of $0.24 per share. Meanwhile, the firm's market-making business generated $782 million of trading income, a testament to the scale advantages that have helped Virtu remain a dominant liquidity provider across global markets. It’s also worth noting that Azora is highly specialized in the financial services sector.
The risk here is that calmer markets can weigh on trading volumes. But Azora's sizable new position suggests it believes the company's earnings power remains underappreciated despite the stock's recent gains, and long-term, the thesis should remain intact.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
June 02, 2026 09:02 ET | Source: Virtu Financial, LLC
NEW YORK, June 02, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT), a leading provider of multi-asset liquidity and innovative, transparent products across the complete investment cycle to the global financial markets, announces today that its subsidiary Virtu Financial Ireland Limited has been granted a license under the European Union’s Markets in Crypto-Assets (MiCA) Regulation, enabling Virtu to provide regulated digital asset services across all 27 EU member states.
The MiCA license represents a significant milestone for Virtu as the firm deepens its commitment to the digital asset ecosystem. MiCA, which establishes a comprehensive regulatory framework for crypto-asset service providers (CASPs) across the European Union, provides institutional and professional clients with the confidence and legal certainty they require when engaging in digital asset markets. With this license in place, Virtu is authorized to offer a suite of regulated crypto-asset services, including trading and liquidity provision, under a single framework across all EU member states.
As one of the world's premier electronic market makers and agency execution specialists, Virtu is uniquely positioned to bring its deep expertise in liquidity provision and transparent, technology-driven execution to the regulated digital asset space in Europe. The MiCA license further strengthens Virtu's growing global digital asset capabilities, complementing the firm's existing offerings across traditional financial markets and positioning it as a trusted partner for institutions navigating the evolving crypto-asset landscape.
"Obtaining our CASP license is a testament to Virtu's long-standing commitment to operating within robust regulatory frameworks and providing our clients with transparency and liquidity," said Scotte Moegling, Head of Business Development for Digital Assets at Virtu Financial. "The EU's MiCA framework provides clear rules of engagement for digital asset markets, and we are proud to be among the select group of liquidity providers ready to support institutional clients across Europe under these regulations. This license enables us to bring our proven expertise in liquidity and market structure to a rapidly maturing asset class."
About Virtu Financial, Inc.
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
One of our most popular services, Zacks Premium offers daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All are useful tools to find what stocks to buy, what to sell, and what are today's hottest industries.
It also includes the Focus List, a long-term portfolio of top stocks that have all the elements to beat the market.
Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?
Enter the Zacks Focus List. It's a portfolio made up of 50 stocks that are set to beat the market over the next 12 months; each company selected serves as a foundation for long-term investors looking to create an individual portfolio.
Additionally, each selection is accompanied by a full Zacks Analyst Report, something that makes the Focus List even more valuable. The report explains in detail why each stock was picked and why we believe it's good for the long-term.
The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.
Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.
Earnings estimates, or expectations of growth and profitability, come from brokerage analysts who track publicly traded companies; these analysts work together with company management to analyze every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
Earnings estimate revisions are very important, since investors also need to take into consideration what a company will earn in the future.
The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.
Utilizing the power of earnings estimate revisions is when the Zacks Rank joins the party. A unique, proprietary stock-rating model, the Zacks Rank uses changes to quarterly earnings expectations to help investors create a winning portfolio.
Four primary factors make up the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each is given a raw score that's recalculated every night and compiled into the Rank, and with this data, stocks are then classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.
Focus List Spotlight: Virtu Financial (VIRT - Free Report) Headquartered in New York, NY, Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. It provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company was founded in 2008.
On July 31, 2023, VIRT was added to the Focus List at $18.9 per share. Shares have increased 180.53% to $53.02 since then, and the company is a #1 (Strong Buy) on the Zacks Rank.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $1.21 to $6.32. VIRT also boasts an average earnings surprise of 25.1%.
Earnings for VIRT are forecasted to see growth of 10.3% for the current fiscal year as well.
Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >>
