Track market-moving stories before they get noisy

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Virtu Financial (VIRT - Free Report) is a stock many investors are watching right now. VIRT is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock holds a P/E ratio of 7.82, while its industry has an average P/E of 14.60. Over the past 52 weeks, VIRT's Forward P/E has been as high as 12.61 and as low as 7.74, with a median of 10.53.

Investors will also notice that VIRT has a PEG ratio of 0.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VIRT's industry has an average PEG of 0.92 right now. Over the last 12 months, VIRT's PEG has been as high as 1.53 and as low as 0.40, with a median of 0.56.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Virtu Financial is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, VIRT feels like a great value stock at the moment.

State of Alaska Department of Revenue lessened its holdings in Virtu Financial, Inc. (NYSE:VIRT – Free Report) by 42.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,926 shares of the company’s stock after selling 21,952 shares during the quarter. State of Alaska Department of Revenue’s holdings in Virtu Financial were worth $1,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Virtu Financial by 41.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,928,509 shares of the company’s stock worth $85,607,000 after purchasing an additional 569,057 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Virtu Financial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,590 shares of the company’s stock valued at $84,458,000 after buying an additional 19,888 shares during the period. Wellington Management Group LLP grew its stake in shares of Virtu Financial by 39.8% during the second quarter. Wellington Management Group LLP now owns 782,114 shares of the company’s stock valued at $46,591,000 after buying an additional 222,859 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Virtu Financial by 115.4% during the first quarter. Bank of America Corp DE now owns 672,405 shares of the company’s stock valued at $29,572,000 after buying an additional 360,288 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Virtu Financial by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 628,693 shares of the company’s stock valued at $27,650,000 after buying an additional 4,183 shares during the last quarter. 45.78% of the stock is owned by institutional investors.

Virtu Financial Trading Down 0.5%
NYSE:VIRT opened at $56.55 on Tuesday. The company has a fifty day moving average of $59.60 and a 200 day moving average of $56.62. Virtu Financial, Inc. has a 52 week low of $31.55 and a 52 week high of $68.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.78 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.41 and a beta of 0.65.

Virtu Financial (NYSE:VIRT – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.01. Virtu Financial had a net margin of 13.50% and a return on equity of 49.06%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $687.23 million. During the same quarter in the prior year, the company posted $1.65 EPS. On average, research analysts predict that Virtu Financial, Inc. will post 6.43 earnings per share for the current year.
Virtu Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, September 1st. Virtu Financial’s dividend payout ratio is currently 15.95%.

Insider Transactions at Virtu Financial
In other news, Director John Nixon sold 9,094 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $60.13, for a total transaction of $546,822.22. Following the transaction, the director directly owned 30,902 shares of the company’s stock, valued at approximately $1,858,137.26. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Grano, Jr. sold 8,400 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $60.94, for a total transaction of $511,896.00. Following the completion of the transaction, the director owned 33,814 shares of the company’s stock, valued at $2,060,625.16. This trade represents a 19.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 46.76% of the company’s stock.

Analyst Ratings Changes
Several research analysts have recently commented on VIRT shares. Wall Street Zen downgraded Virtu Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Evercore upgraded Virtu Financial to an “outperform” rating in a report on Monday, October 5th. Piper Sandler restated an “overweight” rating on shares of Virtu Financial in a report on Friday, October 2nd. JPMorgan Chase & Co. upgraded Virtu Financial from a “neutral” rating to an “overweight” rating and set a $84.00 price target on the stock in a research report on Monday, October 5th. Finally, The Goldman Sachs Group lifted their price target on Virtu Financial from $51.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.60.

View Our Latest Research Report on Virtu Financial

(Free Report)

Virtu Financial, Inc is a global financial services company that provides liquidity, trading, and technology solutions to the financial markets. Through its market-making business, Virtu facilitates trading in a broad range of products, including equities, exchange-traded funds, options, fixed income, foreign exchange, commodities, and certain digital assets.

The company also operates an execution services business that provides trading and workflow technology to institutional investors, asset managers, broker-dealers, and other financial institutions.

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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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SummaryVirtu Financial is upgraded to a buy, driven by resilient trading income, market outperformance, and durable top-line growth.VIRT’s robust ROCE, innovative tech platform, and strong peer positioning support its competitive edge despite a BB- Fitch rating and elevated D/E ratio.Double-digit EPS growth is forecasted, with consensus upward revisions and a low but safe sub-2% dividend yield, making VIRT a modest growth idea.Valuation appears attractive on forward earnings, with a 2027 total return forecast slightly above a 10.2% hurdle rate and Wall Street projecting +22% upside. franckreporter/iStock via Getty Images

The Market Maker with 4 Earnings Beats in a Row We have no doubt witnessed some volatile markets lately, whether driven by AI news, oil shocks, war, Fed rate decisions, or earnings results, but all that trading volume is actually good

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Virtu Financial, Inc. (VIRT - Free Report) : This financial services company has seen the Zacks Consensus Estimate for its current year earnings increasing 5.1% over the last 60 days.

Super Micro Computer, Inc. (SMCI - Free Report) : This server and storage solutions business has seen the Zacks Consensus Estimate for its current year earnings increasing 33.6% over the last 60 days.

SM Energy Company (SM - Free Report) : This independent crude oil and natural gas company has seen the Zacks Consensus Estimate for its current year earnings increasing 6.7% over the last 60 days.

Eni S.p.A. (E - Free Report) : This integrated energy company has seen the Zacks Consensus Estimate for its current year earnings increasing 11.1% over the last 60 days.

International Seaways, Inc. (INSW - Free Report) : This company that owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products has seen the Zacks Consensus Estimate for its current year earnings increasing 5.5% over the last 60 days.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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.

When looking at the last two reports, this high-speed trading company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 21.64%, on average, in the last two quarters.

For the most recent quarter, Virtu Financial was expected to post earnings of $1.68 per share, but it reported $1.82 per share instead, representing a surprise of 8.33%. For the previous quarter, the consensus estimate was $1.66 per share, while it actually produced $2.24 per share, a surprise of 34.94%.

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 has an Earnings ESP of +4.03% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

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.

T. Rowe Price Group (NASDAQ: TROW - Get Free Report) and Virtu Financial (NYSE: VIRT - Get Free Report) are both finance companies, but which is the superior investment? We will compare the two businesses based on the strength of their institutional ownership, valuation, risk, earnings, dividends, profitability and analyst recommendations. Valuation and Earnings This table compares

Key Takeaways Virtu Financial launched POSIT for 245 liquid Saudi Exchange equities through Al Rajhi Capital.Institutions can aggregate liquidity and execute large Negotiated Deals with standard T 2 settlement.Higher POSIT adoption could support trading-related fees, order flow and deeper client relationships. Virtu Financial, Inc. (VIRT - Free Report) recently launched its POSIT block-trading indications network for 245 of the most liquid equities listed on the Saudi Exchange, expanding its institutional trading reach into Saudi Arabia. The service connects Saudi Exchange members and institutional clients to Virtu’s global block-liquidity network through regional partner Al Rajhi Capital.

Investors can aggregate liquidity, source large trades and complete transactions through the Saudi Exchange’s electronic Negotiated Deals facility. Trades settle on a standard T+2 basis through Edaa. For firms without direct exchange membership, Al Rajhi Capital provides connectivity, brokerage and post-trade services.

State Street Investment Management executed the platform’s first transaction there. It said block liquidity can lower transaction implementation costs, highlighting the practical appeal for asset managers.

The launch gives institutional investors another route to trade Saudi equity positions without relying solely on regular exchange order books. The move brings Virtu’s established block-trading workflow into a market seeking deeper international participation. Negotiated Deals facility allows large transactions to remain on-platform, while aggregation can improve the ability to find matching liquidity.

The launch expands Virtu’s addressable execution-services opportunity through the added securities and can potentially attract more institutional order flow into POSIT, reinforcing Virtu’s network value. Higher adoption could support trading-related fees and deepen client relationships, while the Al Rajhi Capital partnership reduces the need for Virtu to build every local service itself.

VIRT’s Price PerformanceShares of Virtu Financial have surged 58% in the year-to-date period against the 10.9% decline of the industry it belongs to.

Image Source: Zacks Investment Research

Zacks Rank & Other Key PicksVirtu Financial currently has a Zacks Rank #2 (Buy). Investors interested in the broader Finance space may look at some other top-ranked players like StoneX Group Inc. (SNEX - Free Report) , Marex Group Limited (MRX - Free Report) and PJT Partners Inc. (PJT - Free Report) . While StoneX and Marex currently sport a Zacks Rank #1 (Strong Buy) each, PJT Partners has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for StoneX’s current-year earnings is pegged at $4.35 per share, which indicates 66% year-over-year growth. It witnessed one upward estimate revision in the past 60 days against no downward movement. The consensus mark for SNEX’s current-year revenues suggests a 41.9% surge from a year ago.

The Zacks Consensus Estimate for Marex’s current-year earnings indicates 46.4% year-over-year growth. During the past 60 days, MRX has witnessed two upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the past four quarters, with an average surprise of 10.4%.

The Zacks Consensus Estimate for PJT Partners’ current-year earnings suggests a 14.6% year-over-year improvement. During the past 60 days, PJT has witnessed one upward estimate revision against no cuts. The consensus mark for current-year revenues is pegged at $1.98 billion, indicating a 15.5% increase from a year ago.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is Virtu Financial (VIRT - Free Report) . VIRT is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 7.82. This compares to its industry's average Forward P/E of 15.38. Over the past 52 weeks, VIRT's Forward P/E has been as high as 12.61 and as low as 7.74, with a median of 10.53.

VIRT is also sporting a PEG ratio of 0.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VIRT's PEG compares to its industry's average PEG of 1.00. Within the past year, VIRT's PEG has been as high as 1.53 and as low as 0.40, with a median of 0.56.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. VIRT has a P/S ratio of 2.2. This compares to its industry's average P/S of 2.39.

These are only a few of the key metrics included in Virtu Financial's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, VIRT looks like an impressive value stock at the moment.

Virtu Financial (NYSE:VIRT – Get Free Report) and Moody’s (NYSE:MCO – Get Free Report) are both finance companies, but which is the better stock? We will compare the two companies based on the strength of their risk, profitability, earnings, institutional ownership, analyst recommendations, valuation and dividends.

Analyst Ratings This is a breakdown of recent ratings and target prices for Virtu Financial and Moody’s, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Virtu Financial 1 2 3 1 2.57 Moody’s 0 5 14 1 2.80 Virtu Financial currently has a consensus target price of $58.80, indicating a potential upside of 1.67%. Moody’s has a consensus target price of $553.61, indicating a potential upside of 18.58%. Given Moody’s’ stronger consensus rating and higher possible upside, analysts plainly believe Moody’s is more favorable than Virtu Financial.

Volatility & Risk Virtu Financial has a beta of 0.62, suggesting that its share price is 38% less volatile than the S&P 500. Comparatively, Moody’s has a beta of 1.34, suggesting that its share price is 34% more volatile than the S&P 500. Dividends Virtu Financial pays an annual dividend of $0.96 per share and has a dividend yield of 1.7%. Moody’s pays an annual dividend of $4.12 per share and has a dividend yield of 0.9%. Virtu Financial pays out 15.9% of its earnings in the form of a dividend. Moody’s pays out 26.1% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Moody’s has increased its dividend for 16 consecutive years. Virtu Financial is clearly the better dividend stock, given its higher yield and lower payout ratio.

Profitability This table compares Virtu Financial and Moody’s’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Virtu Financial 13.50% 49.06% 4.28% Moody’s 34.25% 80.35% 19.38% Insider and Institutional Ownership 45.8% of Virtu Financial shares are owned by institutional investors. Comparatively, 92.1% of Moody’s shares are owned by institutional investors. 46.8% of Virtu Financial shares are owned by insiders. Comparatively, 0.1% of Moody’s shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term.

Earnings & Valuation This table compares Virtu Financial and Moody’s”s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Virtu Financial $3.63 billion 2.47 $468.36 million $6.02 9.61 Moody’s $7.72 billion 10.48 $2.46 billion $15.77 29.61 Moody’s has higher revenue and earnings than Virtu Financial. Virtu Financial is trading at a lower price-to-earnings ratio than Moody’s, indicating that it is currently the more affordable of the two stocks.

Summary Moody’s beats Virtu Financial on 14 of the 17 factors compared between the two stocks.

(Get Free Report)

Virtu Financial, Inc., a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company’s solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities. Its analytics platform provides a range of pre- and post-trade services, data products, and compliance tools for clients to invest, trade, and manage risk across markets. Virtu Financial, Inc. was founded in 2008 and is headquartered in New York, New York.

About Moody’s (Get Free Report)

Moody’s Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody’s Analytics and Moody’s Investors Services. The Moody’s Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets. It also offers credit research, credit models and analytics, economics data and models, and structured finance solutions; data sets on companies and securities; and SaaS solutions supporting banking, insurance, and know your customer workflows. The Moody’s Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as structured finance securities. The company was formerly known as Dun and Bradstreet Company and changed its name to Moody’s Corporation in September 2000. Moody’s Corporation was founded in 1900 and is headquartered in New York, New York.

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VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Virtu Financial, Inc. (NYSE:VIRT – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,800 shares of the company’s stock, valued at approximately $1,001,000.

A number of other large investors also recently modified their holdings of VIRT. Jones Financial Companies Lllp grew its holdings in shares of Virtu Financial by 1,624.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the company’s stock worth $38,000 after purchasing an additional 942 shares during the period. United Services Automobile Association purchased a new stake in Virtu Financial during the first quarter worth approximately $222,000. Empowered Funds LLC purchased a new stake in Virtu Financial during the first quarter worth approximately $1,934,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Virtu Financial by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,233 shares of the company’s stock worth $8,624,000 after acquiring an additional 26,743 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Virtu Financial in the 2nd quarter valued at $235,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling In related news, Director Joseph Grano, Jr. sold 8,400 shares of Virtu Financial stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $60.94, for a total value of $511,896.00. Following the completion of the sale, the director owned 33,814 shares in the company, valued at approximately $2,060,625.16. The trade was a 19.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Nixon sold 9,094 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $60.13, for a total transaction of $546,822.22. Following the transaction, the director directly owned 30,902 shares of the company’s stock, valued at approximately $1,858,137.26. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 46.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $51.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Morgan Stanley upped their target price on Virtu Financial from $39.00 to $57.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on Virtu Financial from $51.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of Virtu Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Virtu Financial in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Virtu Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.80. Get Our Latest Stock Report on VIRT

Virtu Financial Trading Up 0.2% NYSE:VIRT opened at $61.00 on Monday. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.41 and a beta of 0.62. Virtu Financial, Inc. has a one year low of $31.55 and a one year high of $68.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.45 and a current ratio of 0.45. The business’s 50-day simple moving average is $61.12 and its 200 day simple moving average is $53.81.

Virtu Financial (NYSE:VIRT – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $1.82 earnings per share for the quarter. Virtu Financial had a return on equity of 49.06% and a net margin of 13.50%.The firm had revenue of $984.69 million during the quarter. Virtu Financial has set its Q2 2026 guidance at 1.820-1.820 EPS. As a group, sell-side analysts predict that Virtu Financial, Inc. will post 6.38 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Virtu Financial’s dividend payout ratio (DPR) is presently 15.95%.

Virtu Financial Profile (Free Report)

Virtu Financial, Inc is a global financial services company that provides liquidity and execution services across the financial markets. Through its market-making operations, the company quotes buy and sell prices and facilitates trading in a range of securities, including equities, exchange-traded funds, options, futures, foreign exchange and fixed-income products.

Virtu also provides technology-enabled execution and workflow solutions to institutions, brokers, and other market participants.

Further Reading Five stocks we like better than Virtu Financial Why Bitcoin ETFs May Be Worth Another Look as Inflows Rebound 3 Small-Cap Biotechs With Binary Catalysts on the Calendar Planet Labs Has Fallen Back to Earth, But Wall Street Still Sees a Rebound As Homeowners’ Premiums Surge, This Insurer Is Posting Record Profits 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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Public Employees Retirement System of Ohio bought a new stake in Virtu Financial, Inc. (NYSE:VIRT – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,562 shares of the company’s stock, valued at approximately $1,404,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC grew its stake in Virtu Financial by 480.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 836 shares of the company’s stock valued at $28,000 after acquiring an additional 692 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Virtu Financial by 103.8% during the second quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $34,000 after purchasing an additional 387 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Virtu Financial by 51.9% during the third quarter. CIBC Private Wealth Group LLC now owns 972 shares of the company’s stock worth $35,000 after purchasing an additional 332 shares during the period. Quarry LP bought a new position in shares of Virtu Financial in the 3rd quarter worth $35,000. Finally, International Assets Investment Management LLC bought a new position in shares of Virtu Financial in the 4th quarter worth $37,000. 45.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity In related news, Director Joseph J. Grano, Jr. sold 8,400 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $60.94, for a total transaction of $511,896.00. Following the transaction, the director directly owned 33,814 shares in the company, valued at approximately $2,060,625.16. The trade was a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Nixon sold 9,094 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $60.13, for a total transaction of $546,822.22. Following the transaction, the director owned 30,902 shares in the company, valued at approximately $1,858,137.26. This trade represents a 22.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 46.76% of the company’s stock.

Analysts Set New Price Targets Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Virtu Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Virtu Financial in a report on Wednesday, August 26th. Piper Sandler raised their price objective on shares of Virtu Financial from $61.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Virtu Financial from $51.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Zacks Research raised shares of Virtu Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.80. Get Our Latest Analysis on VIRT

Virtu Financial Stock Up 0.2% VIRT stock opened at $64.57 on Tuesday. The firm has a market capitalization of $10.02 billion, a PE ratio of 10.73, a P/E/G ratio of 0.43 and a beta of 0.62. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.87. Virtu Financial, Inc. has a twelve month low of $31.55 and a twelve month high of $68.76. The stock’s 50 day moving average is $61.05 and its 200-day moving average is $53.18.

Virtu Financial (NYSE:VIRT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $1.82 earnings per share (EPS) for the quarter. The business had revenue of $984.69 million during the quarter. Virtu Financial had a return on equity of 49.06% and a net margin of 13.50%.Virtu Financial has set its Q2 2026 guidance at 1.820-1.820 EPS. Sell-side analysts expect that Virtu Financial, Inc. will post 6.38 EPS for the current fiscal year.

Virtu Financial Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. Virtu Financial’s dividend payout ratio is presently 15.95%.

(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.

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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.

VIRT, a #1 (Strong Buy) stock, was added to the Focus List on July 31, 2023 at $18.9 per share. Since then, shares have increased 240.9% to $64.43.

For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.8 to $7.02. VIRT boasts an average earnings surprise of 24%.

Earnings for VIRT are forecasted to see growth of 22.5% for the current fiscal year as well.

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Key Takeaways Virtu Financial's shares surged 93.4% year-to-date, outperforming the industry's 5.7% decline.Virtu Financial's adjusted EBITDA rose 38.9% in the first half of 2026, while margins also improved.VIRT boosted trading capital to $3.4 billion as higher volumes and volatility created opportunities. Virtu Financial, Inc. (VIRT - Free Report) benefits from its diversified business, a supportive trading environment and efficiency-improving efforts. In the year-to-date period, shares of VIRT surged 93.4%, outperforming the industry’s decline of 5.7%.

VIRT – with a market cap of $10 billion – provides a wide array of offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. The company operates through two reportable segments: the Market Making unit and Execution Services unit. Its forward 12-month P/E ratio of 10.86X is lower than the industry average of 16.94X.

Courtesy of solid prospects, VIRT currently sports a Zacks Rank #1 (Strong Buy) and a Value Score of B.

Let’s delve deeper.

Where Do VIRT’s Estimates Stand?The Zacks Consensus Estimate for Virtu Financial’s 2026 earnings is pegged at $7.02 per share, indicating a 22.5% year-over-year rise. The consensus mark for revenues is pinned at $2.6 billion, indicating 21.9% year-over-year growth. Furthermore, it beat earnings estimates in each of the past four quarters, with an average surprise of 24%.

VIRT’s Growth DriversVirtu Financial’s growth is being supported by a broader opportunity set across asset classes and geographies, along with a larger capital base. Growth areas such as crypto, options and block ETFs remain healthy, while global equities, retail and proprietary trading also performed well during the second quarter. The company’s trading capital has increased to $3.4 billion in the second quarter of 2026 from $2 billion a year ago, giving it greater flexibility to pursue opportunities created by higher volumes, volatility and market fragmentation.

Both operating segments delivered solid results in the second quarter of 2026. Market Making generated adjusted net trading income of about $579.9 million, up from $451.5 million a year ago, supported by stronger trading activity across markets. Execution Services produced $138 million of adjusted net trading income compared with $116.3 million in the prior-year period. The segment has also sustained adjusted net trading income above $2 million per day for three consecutive quarters, pointing to improving consistency in the business. The company’s total revenues rose 19% year over year in the second quarter.

VIRT is investing heavily to strengthen its technology-led growth platform. Spending on power and computing infrastructure is being complemented by selective partnerships and continued hiring across quantitative research, trading, engineering and development. The company expects aggressive recruitment to continue over the next couple of years while it expands deployable trading capital and connects to new electronically traded products and venues. Free cash flow is expected to remain an important source of capital for supporting these initiatives over time. In the first half of 2026, adjusted EBITDA rose 38.9% year over year, and the net income margin increased to 27.6% from 26.3% in the prior-year period, reflecting higher net trading income and better utilization of the platform.

The company’s balance sheet continues to provide flexibility to reinvest and return capital. Virtu Financial ended the second quarter of 2026 with cash and cash equivalents of $1.1 billion. Net Debt-to-EBITDA of 0.4 is lower than the industry average of 1.9.

VIRT’s Key RisksThere are some factors, however, that investors should keep a careful eye on.

Virtu Financial faces notable risks within its Execution Services segment despite its growing contribution to more stable revenues. The business operates in a highly competitive landscape, with large investment banks, agency brokers, electronic trading firms and exchange-owned platforms aggressively competing on pricing, technology and execution quality. This intensifies the risk of fee compression and margin pressure. Additionally, the segment remains vulnerable to client concentration, as the loss of a few large institutional customers could materially impact revenues.

VIRT’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.

Other Key PicksSome other top-ranked stocks in the broader finance space are Pagaya Technologies Ltd. (PGY - Free Report) , StoneX Group Inc. (SNEX - Free Report) and Bread Financial Holdings, Inc. (BFH - Free Report) , each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Pagaya Technologies’ current-year earnings of $3.72 per share has witnessed one upward revision in the past 60 days, with none in the opposite direction. PGY’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 43.5%. The consensus estimate for current-year revenues is pegged at $1.5 billion, suggesting a 13% year-over-year jump.

The consensus estimate for StoneX Group’s current-year earnings is pegged at $4.35 per share, which signals 66% year-over-year growth. Its earnings beat estimates in three of the trailing four quarters and missed once, with the average surprise being 20.4%. The consensus mark for SNEX’s current-year revenues is pinned at $5.9 billion, indicating 41.9% year-over-year growth.

The consensus estimate for Bread Financial’s current-year earnings is pegged at $12.10 per share, which has witnessed one upward revision in the past 30 days against none in the opposite direction. Its earnings beat estimates in each of the trailing four quarters, with the average surprise being 147.1%. The consensus estimate for BFH’s current-year revenues is pegged at $4 billion, which implies a 3.6% year-over-year rise.

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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 254.71% to $67.04. The stock is currently a #1 (Strong Buy) on the Zacks Rank.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.8 to $7.02. VIRT also boasts an average earnings surprise of 24%.

Moreover, analysts are expecting VIRT's earnings to grow 22.5% for the current fiscal year.

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On August 21, 2026, Virtu Financial Inc (VIRT) shares rose by 11.0% to a current price of $67.93. This increase is notable given the stock's 52-week range, whic

NEW YORK, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Virtu Financial (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, recently launched notional order execution capabilities for 10b-18 corporate buyback programs, a specialized offering available from only a small number of financial companies. Virtu's notional order functionality allows sell-side and buy-side clients to instruct execution based on a specified dollar (notional) value rather than a fixed share quantity, giving clients greater precision and control over corporate buyback spend.

Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.

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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.

With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.

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Should You Consider Bank of Nova Scotia?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Bank of Nova Scotia (BNS - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $1.57 a share, just 11 days from its upcoming earnings release on August 25, 2026.

Bank of Nova Scotia's Earnings ESP sits at +2.84%, which, as explained above, is calculated by taking the percentage difference between the $1.57 Most Accurate Estimate and the Zacks Consensus Estimate of $1.53. BNS is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

BNS is just one of a large group of Finance stocks with a positive ESP figure. Virtu Financial (VIRT - Free Report) is another qualifying stock you may want to consider.

Virtu Financial is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on November 4, 2026. VIRT's Most Accurate Estimate sits at $1.51 a share 82 days from its next earnings release.

For Virtu Financial, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.45 is +3.65%.

Because both stocks hold a positive Earnings ESP, BNS and VIRT could potentially post earnings beats in their next reports.

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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 #3 (Hold) 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 7.99; value investors should take notice.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.73 to $6.95 per share. VIRT also boasts an average earnings surprise of +24%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, VIRT should be on investors' short list.

Key Takeaways Virtu Financial posted Q2 adjusted EPS of $1.82, up 19% year over year and above estimates.VIRT's Market Making business delivered 28.4% growth in adjusted net trading income year over year.VIRT's higher operating expenses partly offset gains from commissions, technology services and trading. Virtu Financial, Inc. (VIRT - Free Report) reported second-quarter adjusted earnings per share (EPS) of $1.82, which beat the Zacks Consensus Estimate by 8.3%. The bottom line increased 19% year over year.

Adjusted Net Trading Income rose 26.4% year over year to $717.9 million, surpassing the consensus estimate by 8.4%.

The strong quarterly results were driven by higher commissions and technology services revenues, increased interest and dividend income, and solid Market Making performance. However, higher operating expenses partially offset these gains.

Virtu Financial, Inc. Price, Consensus and EPS SurpriseVirtu Financial’s Q2 Performance DetailsRevenues from commissions, net and technology services rose 16.7% year over year to $179.5 million. The metric beat the Zacks Consensus Estimate and our model estimate of $177.9 million.

Interest and dividend income increased 13.6% year over year to $145.9 million, beating both the Zacks Consensus Estimate and our estimate of $134.5 million.

Adjusted EBITDA increased 18.2% year over year to $436.8 million. Adjusted EBITDA margin decreased year over year to 60.8% from 65.1% a year ago.

Total operating expenses rose 29.9% year over year to $847.4 million, exceeding our estimate of $633.7 million. The increase was due to higher costs related to brokerage, exchange, clearance fees and payments for order flow, net, communication and data processing, interest and dividends expense and employee compensation and payroll taxes.

Q2 Segmental UpdateMarket Making: Adjusted net trading income totaled $579.9 million in the second quarter, climbing 28.4% year over year. The metric surpassed the Zacks Consensus Estimate of $517 million. The unit’s revenues increased 28.3% year over year to $1 billion, beating both the Zacks Consensus Estimate and our estimate of $708.2 million.

Execution Services: The unit recorded adjusted net trading income of $138 million in the quarter under review, representing an increase of 18.7% year over year. The metric missed the Zacks Consensus Estimate of $145 million and our estimate of $139.8 million. The unit’s total revenues declined 19.1% year over year to $173.5 million, missing both the consensus estimate and our estimate of $177.2 million.

Q2 Financial UpdateVirtu Financial ended the second quarter with cash and cash equivalents of $1.1 billion, up 0.7% from the 2025-end level. Total assets of $27.5 billion increased 36.4% from the 2025-end level.

Long-term borrowings, net, amounted to $2 billion, down 0.7% from the figure as of Dec. 31, 2025. Short-term borrowings totaled $353.9 million.

Total equity of $2.3 billion was up from the 2025-end level of $2 billion.

Share Repurchase & Dividend UpdateVirtu Financial did not buy back shares in the second quarter of 2026. It announced a quarterly cash dividend of 24 cents per share, payable on Sept. 15, 2026, to its shareholders of record as of Sept. 1, 2026.

VIRT’s Zacks RankVirtu Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

How Did VIRT’s Peers Perform?Several companies in the Finance space, including Aon plc (AON - Free Report) , RenaissanceRe Holdings Ltd. (RNR - Free Report) and AMERISAFE, Inc. (AMSF - Free Report) , have already reported their financial results for the June quarter of 2026. Here’s how they have performed:

Aon reported second-quarter 2026 adjusted earnings of $3.81 per share, which surpassed the Zacks Consensus Estimate by 1.1%. The bottom line advanced 9% year over year. Aon’s total revenues of $4.2 billion grew 2% year over year.  The top line missed the consensus mark by 0.4%. Organic revenue growth was 5%. The quarterly results were supported by strong organic revenue growth, healthy client retention, operating margin expansion and disciplined execution. Solid performance across the Commercial Risk, Reinsurance and Health Solutions businesses was partly offset by weakness in Wealth Solutions.

RenaissanceRe reported second-quarter 2026 operating income of $12.92 per share, which surpassed the Zacks Consensus Estimate by 12.9%.  The bottom line also improved 5.1% year over year.  RNR’s total operating revenues declined 6.7% year over year to $2.64 billion. The top line missed the consensus mark by 1%. The quarterly earnings benefited from lower expenses, higher net investment income and an improved total combined ratio. However, the upside was partly offset by lower net premiums earned, weaker underwriting results in the Casualty & Specialty segment and lower fee income.

AMERISAFE reported second-quarter adjusted earnings per share of 44 cents, which missed the Zacks Consensus Estimate by 17%. The bottom line declined 17% year over year.  Operating revenues increased 10.3% year over year to $83.95 million and topped the Zacks Consensus Estimate by 1%. AMERISAFE’s quarterly results were affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. Strong premium growth partly offset these headwinds.

MarketBeat Week in Review – 04/27 - 05/01Virtu Financial NYSE: VIRT said its second-quarter 2026 performance reflected favorable market conditions, continued growth in its trading-capital base and investments in technology and talent, with management pointing to all-time highs in several trailing 12-month profitability measures.

Chief Executive Officer Aaron Simons said the company has made progress on a growth plan announced a year earlier, which included investments in infrastructure, talent and capital. He said Virtu has invested in power and computing capacity, begun establishing select partnerships through investments, and continued recruiting in key technical and trading roles.

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The Volatility Harvester That Thrives in Market Chaos“We are reestablishing our reputation as a firm run by technologists and traders,” Simons said, adding that attrition has declined to multiyear lows.

Quarterly profitability and segment performance Chief Financial Officer Cindy Lee said Virtu generated adjusted net trading income, or ANTI, of $11.6 million per day during the second quarter, with a quarterly total of $718 million. Market Making contributed $9.4 million of ANTI per day, while Execution Services generated $2.2 million per day.

The company reported adjusted EBITDA of $437 million, representing a 61% margin, and adjusted earnings per share of $1.82. Over the past 12 months, Virtu recorded ANTI per day of $10.4 million, adjusted EBITDA of $1.7 billion and adjusted EPS of $6.96, all of which Lee described as company records on a trailing 12-month basis.

Management said both operating segments benefited from market conditions and execution by Virtu’s teams. Co-President and Co-Chief Operating Officer Joseph Molluso cited continued growth in crypto, options and block exchange-traded fund markets. He also identified global equities, retail and proprietary trading activity as standouts during the quarter.

Molluso said the Execution Services business, or VES, has generated more than $2 million in daily ANTI for three consecutive quarters. He described the consistency of that performance as a meaningful contributor to results.

Capital build supported by debt issuance and retained earnings Virtu’s total trading capital reached $3.4 billion, up from $2 billion a year earlier, Simons said. The increase followed 12 months of retained earnings and an opportunistic increase in the company’s term loan.

Lee said invested capital stood at $2.9 billion as of June 30 and produced an average return of 106% over the past year. In early July, the company increased its term loan by $500 million. Its trailing debt-to-EBITDA ratio was 1.5 times, which Lee characterized as modest leverage.

Molluso said the debt financing was completed because market conditions provided an attractive opportunity, rather than because the company needed to raise funds immediately. He said the offering was oversubscribed and was executed at what management viewed as an attractive price and tight spread levels.

“You raise money when you can, not when you have to,” Molluso said of conditions in the debt and leveraged-loan markets.

Management said the additional capital is already deployed and that it had previously used some short-term liquidity to capture market opportunities. Molluso said Virtu considers its current debt level sustainable in the near to medium term, and expects further capital accumulation to come primarily through free cash flow generation. The company said it intends to maintain its quarterly dividend of $0.24 per share.

Hiring investment and compensation Virtu said it is continuing to hire aggressively in areas including quantitative research, trading, engineering and software development. Simons said the company does not have a specific headcount target and expects to continue hiring at a strong pace for at least the next several years.

He said the company’s hiring efforts are part of a broader cultural shift that has been recognized by current employees and prospective candidates, contributing to lower attrition and increased interest from the talent pool.

Through June 30, Virtu’s cash compensation ratio was 23% and its total compensation ratio was 28%, according to Lee. Molluso said management’s guidance remains for a low-to-mid-20% cash compensation ratio, noting that the company has been willing to tolerate an investment period as it recruits talent.

He said the company takes a top-down approach to compensation early in the year and refines accruals as it approaches year-end. Management advised investors to focus on the year-to-date compensation ratio rather than a single quarter.

Broad-based deployment and evolving products Simons said Virtu is directing incremental capital and personnel broadly across the business rather than toward one specific asset class, product or geography. He noted that allocations can shift quickly as opportunities change because of the company’s relatively flat structure and ability to move capital opportunistically.

On the potential development of regulated perpetual futures in the United States, Simons said Virtu does not seek to predict where trading volumes will ultimately settle. He said new trading methods and market fragmentation have historically contributed to higher volumes, at least in the short term.

Molluso said Virtu does not view perpetual futures as an entirely new asset class, but rather as an evolution of existing asset classes. He said Virtu Execution Services is not currently seeing significant institutional demand for the products, while Virtu itself does not have direct retail customers. Still, management said it intends to provide pricing, liquidity and trading services as products become liquid and tradable.

About Virtu Financial (NYSE:VIRT)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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Virtu Financial (VIRT - Free Report) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.53 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.33%. A quarter ago, it was expected that this high-speed trading company 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 surpassed consensus EPS estimates four times.

Virtu Financial, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $717.87 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.44%. This compares to year-ago revenues of $567.72 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 73.9% since the beginning of the year versus the S&P 500's gain of 6.9%.

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 mixed. 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 #3 (Hold) for the stock. So, the shares are expected to perform in line with 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 $1.45 on $603.5 million in revenues for the coming quarter and $6.95 on $2.59 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 bottom 28% 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.

One other stock from the same industry, Jefferson Capital, Inc. (JCAP - Free Report) , is yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of -22.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Jefferson Capital, Inc.'s revenues are expected to be $173.6 million, up 13.7% from the year-ago quarter.

NEW YORK, July 30, 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 second quarter ended June 30, 2026.

Second Quarter 2026:

Net income of $284.9 million; Normalized Adjusted Net Income1 of $291.5 millionBasic and diluted earnings per share of $1.63; Normalized Adjusted EPS1 of $1.82Total revenues of $1,190.0 million; Trading income, net, of $856.7 million; Net income Margin of 23.9%2 Adjusted Net Trading Income1 of $717.9 million Adjusted EBITDA1 of $436.8 million; Adjusted EBITDA Margin1 of 60.8%
The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on September 15, 2026 to shareholders of record as of September 1, 2026.

Note 1: Non-GAAP financial measures. Please see "Non-GAAP Financial Measures and Other Items" for more information.
Note 2: Calculated by dividing Net income by Total revenue.

Financial Results

Second Quarter 2026:

Total revenues increased 19.0% to $1,190.0 million for this quarter, compared to $999.6 million for the same period in 2025. Trading income, net, increased 31.2% to $856.7 million for the quarter compared to $652.8 million for the same period in 2025. Net income totaled $284.9 million for this quarter, compared to net income of $293.0 million in the prior year quarter.

Basic and diluted earnings per share for this quarter were $1.63, compared to basic and diluted earnings per share of $1.65 for the same period in 2025.

Adjusted Net Trading Income increased 26.4% to $717.9 million for this quarter, compared to $567.7 million for the same period in 2025. Adjusted EBITDA increased 18.2% to $436.8 million for this quarter, compared to $369.4 million for the same period in 2025. Normalized Adjusted Net Income increased 19.4% to $291.5 million for this quarter, compared to $244.2 million for the same period in 2025.

Assuming all non-controlling interests had been exchanged for common stock, and the Company’s Normalized Adjusted Net Income before income taxes was subject to corporation taxes, Normalized Adjusted EPS was $1.82 for this quarter, compared to $1.53 for the same period in 2025.

Operating Segment Information

The Company has two operating segments: Market Making and Execution Services; and one non-operating segment: Corporate.

Market Making principally consists of market making in the cash, futures and options markets across global equities, fixed income, currencies, cryptocurrencies, and commodities. As a market maker, the Company commits capital on a principal basis by offering to buy securities from, or sell securities to, broker dealers, banks and institutions.

Execution Services comprises agency-based trading and trading venues, offering execution services in global equities, options, futures and fixed income on behalf of institutions, banks and broker dealers. The Company also provides proprietary technology and infrastructure, workflow technology, and trading analytics services to select third parties. The segment also includes the results of the Company's capital markets business, in which the Company acts as an agent for issuers in connection with at-the-market offerings and buyback programs.

Corporate contains the Company's investments, principally in strategic trading-related opportunities, and maintains corporate overhead expenses.

The following tables show the trading income, net, total revenues and Adjusted Net Trading Income by segment for the three and six months ended June 30, 2026 and 2025.

Total revenues by segment
(in thousands, unaudited)

  Three Months Ended June 30, 2026 Three Months Ended June 30, 2025  Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $849,402 $7,289 $— $856,691 $647,344  $5,452 $—  $652,796Commissions, net and technology services  15,944  163,601  —  179,545  14,414   139,445  —   153,859Interest and dividends income  143,322  2,564  —  145,886  125,893   2,513  —   128,406Other, net  506  7  7,318  7,831  (1,058)  67,078  (1,508)  64,512Total Revenues $1,009,174 $173,461 $7,318 $1,189,953 $786,593  $214,488 $(1,508) $999,573                    Six Months Ended June 30, 2026 Six Months Ended June 30, 2025  Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $1,631,821 $14,016 $—  $1,645,837  $1,229,966  $12,813 $— $1,242,779Commissions, net and technology services  24,619  341,551  —   366,170   31,726   273,440  —  305,166Interest and dividends income  268,384  5,020  —   273,404   232,331   5,128  —  237,459Other, net  47  5  (183)  (131)  (16,258)  64,115  4,181  52,038Total Revenues $1,924,871 $360,592 $(183) $2,285,280  $1,477,765  $355,496 $4,181 $1,837,442                             Reconciliation of trading income, net to Adjusted Net Trading Income by operating segment
(in thousands, unaudited)

  Three Months Ended June 30, 2026 Three Months Ended June 30, 2025  Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $849,402  $7,289  $— $856,691  $647,344  $5,452  $— $652,796 Commissions, net and technology services  15,944   163,601   —  179,545   14,414   139,445   —  153,859 Interest and dividends income  143,322   2,564   —  145,886   125,893   2,513   —  128,406 Brokerage, exchange, clearance fees and payments for order flow, net  (225,815)  (33,171)  —  (258,986)  (172,311)  (29,814)  —  (202,125)Interest and dividends expense  (202,982)  (2,284)  —  (205,266)  (163,871)  (1,342)  —  (165,213)Adjusted Net Trading Income $579,871  $137,999  $— $717,870  $451,469  $116,254  $— $567,723                     Six Months Ended June 30, 2026 Six Months Ended June 30, 2025  Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $1,631,821  $14,016  $— $1,645,837  $1,229,966  $12,813  $— $1,242,779 Commissions, net and technology services  24,619   341,551   —  366,170   31,726   273,440   —  305,166 Interest and dividends income  268,384   5,020   —  273,404   232,331   5,128   —  237,459 Brokerage, exchange, clearance fees and payments for order flow, net  (328,573)  (69,241)  —  (397,814)  (366,614)  (57,386)  —  (424,000)Interest and dividends expense  (379,323)  (3,870)  —  (383,193)  (293,922)  (2,619)  —  (296,541)Adjusted Net Trading Income $1,216,928  $287,476  $— $1,504,404  $833,487  $231,376  $— $1,064,863                                 Financial Condition

As of June 30, 2026, Virtu had $1,133.0 million in cash, cash equivalents and restricted cash, and total long-term debt outstanding in an aggregate principal amount of $2,051.1 million.

Earnings Conference Call Information

Virtu Financial will host a conference call to review its second quarter 2026 financial performance today, July 30th, 2026, at 7:00 a.m. ET. Members of the public may listen to the conference call through an audio webcast through the Investor Relations section of the firm’s website ir.virtu.com/investor-relations.

Website Information

We routinely post important information for investors on the Investor Relations section of our website, ir.virtu.com/investor-relations and also from time to time may use social media channels, including our X account (x.com/virtufinancial) and our LinkedIn account (linkedin.com/company/virtu-financial), as an additional means of disclosing public information to investors, the media and others interested in us. It is possible that certain information we post on our website and on social media could be deemed to be material information, and we encourage investors, the media and others interested in us to review the business and financial information we post on our website and on the social media channels identified above, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website and our social media channels is not incorporated by reference into, and is not a part of, this document.

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
Condensed Consolidated Statements of Comprehensive Income (Unaudited)       Three Months Ended
June 30, Six Months Ended
June 30,(in thousands, except share and per share data)  2026   2025   2026   2025          Revenues:        Trading income, net $856,691  $652,796  $1,645,837  $1,242,779 Interest and dividends income  145,886   128,406   273,404   237,459 Commissions, net and technology services  179,545   153,859   366,170   305,166 Other, net  7,831   64,512   (131)  52,038 Total revenues  1,189,953   999,573   2,285,280   1,837,442          Operating Expenses:        Brokerage, exchange, clearance fees and payments for order flow, net  258,986   202,125   397,814   424,000 Communication and data processing  69,712   61,435   136,587   121,238 Employee compensation and payroll taxes  216,683   136,181   425,038   255,537 Interest and dividends expense  205,266   165,213   383,193   296,541 Operations and administrative  29,445   25,895   58,518   48,031 Depreciation and amortization  18,383   15,618   34,812   31,550 Amortization of purchased intangibles and acquired capitalized software  11,783   11,783   23,566   23,566 Termination of office leases  837   11   821   21 Debt issue cost related to debt refinancing, prepayment and commitment fees  1,474   1,682   3,130   3,363 Transaction advisory fees and expenses  —   59   —   397 Financing interest expense on long-term borrowings  34,827   32,551   69,672   62,442 Total operating expenses  847,396   652,553   1,533,151   1,266,686          Income before income taxes and noncontrolling interest  342,557   347,020   752,129   570,756 Provision for income taxes  57,628   54,044   120,604   88,145 Net income $284,929  $292,976  $631,525  $482,611          Noncontrolling interest  (134,030)  (141,789)  (298,317)  (231,743)         Net income available for common stockholders $150,899  $151,187  $333,208  $250,868          Earnings per share:        Basic $1.63  $1.65  $3.62  $2.74 Diluted $1.63  $1.65  $3.62  $2.73          Weighted average common shares outstanding        Basic  87,603,606   85,490,121   86,852,837   85,585,040 Diluted  87,603,606   85,530,426   86,852,837   85,794,619          Comprehensive income:        Net income $284,929  $292,976  $631,525  $482,611 Other comprehensive income        Foreign exchange translation adjustment, net of taxes  (1,480)  12,539   (4,900)  17,279 Net change in unrealized cash flow hedges gain (loss), net of taxes  —   1,098   —   (1,012)Comprehensive income $283,449  $306,613  $626,625  $498,878 Less: Comprehensive income attributable to noncontrolling interest  (133,411)  (147,639)  (296,242)  (238,714)Comprehensive income available for common stockholders $150,038  $158,974  $330,383  $260,164                   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, and selected Operating Margins.       Three Months Ended
June 30, Six Months Ended
June 30,(in thousands, except percentages)  2026   2025   2026   2025          Reconciliation of Trading income, net to Adjusted Net Trading Income        Trading income, net $856,691  $652,796  $1,645,837  $1,242,779 Commissions, net and technology services  179,545   153,859   366,170   305,166 Interest and dividends income  145,886   128,406   273,404   237,459 Brokerage, exchange, clearance fees and payments for order flow, net  (258,986)  (202,125)  (397,814)  (424,000)Interest and dividends expense  (205,266)  (165,213)  (383,193)  (296,541)Adjusted Net Trading Income $717,870  $567,723  $1,504,404  $1,064,863          Reconciliation of Net Income to EBITDA and Adjusted EBITDA        Net income  284,929   292,976   631,525   482,611 Financing interest expense on long-term borrowings  34,827   32,551   69,672   62,442 Debt issue cost related to debt refinancing, prepayment and commitment fees  1,474   1,682   3,130   3,363 Depreciation and amortization  18,383   15,618   34,812   31,550 Amortization of purchased intangibles and acquired capitalized software  11,783   11,783   23,566   23,566 Provision for income taxes  57,628   54,044   120,604   88,145 EBITDA $409,024  $408,654  $883,309  $691,677 Severance  1,386   3,178   3,920   5,357 Transaction advisory fees and expenses  —   59   —   397 Termination of office leases  837   11   821   21 Gain on sale of RFQ-hub  —   (66,988)  —   (66,988)Other  (7,831)  1,964   1,480   14,465 Share based compensation  33,362   22,571   67,821   44,459 Adjusted EBITDA $436,778  $369,449  $957,351  $689,388          Selected Operating Margins        GAAP Net income Margin (1)  23.9%  29.3%  27.6%  26.3%Non-GAAP Net income Margin (2)  39.7%  51.6%  42.0%  45.3%EBITDA Margin (3)  57.0%  72.0%  58.7%  65.0%Adjusted EBITDA Margin (4)  60.8%  65.1%  63.6%  64.7%         1 Calculated by dividing Net income by Total revenue.
      2 Calculated by dividing Net income by Adjusted Net Trading Income.
      3 Calculated by dividing EBITDA by Adjusted Net Trading Income.
      4 Calculated by dividing Adjusted EBITDA by Adjusted Net Trading Income.
                Virtu Financial, Inc. and Subsidiaries
Reconciliation to Non-GAAP Operating Data (Unaudited)
(Continued) The following tables reconcile Condensed Consolidated Statements of Comprehensive Income to arrive at Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS.   Three Months Ended
June 30, Six Months Ended
June 30,(in thousands, except share and per share data)  2026   2025  2026
  2025          Reconciliation of Net Income to Normalized Adjusted Net Income        Net income $284,929  $292,976  $631,525 $482,611 Provision for income taxes  57,628   54,044   120,604  88,145 Income before income taxes and noncontrolling interest $342,557  $347,020  $752,129 $570,756 Amortization of purchased intangibles and acquired capitalized software  11,783   11,783   23,566  23,566 Debt issue cost related to debt refinancing, prepayment and commitment fees  1,474   1,682   3,130  3,363 Severance  1,386   3,178   3,920  5,357 Transaction advisory fees and expenses  —   59   —  397 Termination of office leases  837   11   821  21 Gain on sale of RFQ-hub  —   (66,988)  —  (66,988)Other  (7,831)  1,964   1,480  14,465 Share based compensation  33,362   22,571   67,821  44,459 Normalized Adjusted Net Income before income taxes $383,568  $321,280  $852,867 $595,396 Normalized provision for income taxes (1)  92,056   77,107   204,688  142,894 Normalized Adjusted Net Income $291,512  $244,173  $648,179 $452,502          Weighted Average Adjusted shares outstanding (2)  159,860,687   159,952,792   159,700,858  160,133,364          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. Includes additional shares from the dilutive impact of restricted stock units and restricted stock awards outstanding under the Second Amended and Restated 2015 Management Incentive Plan during the three and six months ended June 30, 2026 and 2025.  Virtu Financial, Inc. and Subsidiaries
Condensed Consolidated Statements of Financial Condition (Unaudited)     (in thousands, except share data) June 30,
2026 December 31,
2025     Assets    Cash and cash equivalents $1,069,254 $1,061,697 Cash and securities segregated under regulations and other  63,759  64,744 Securities borrowed  3,774,108  3,191,138 Securities purchased under agreements to resell  1,857,034  988,929 Receivables from broker-dealers and clearing organizations  3,207,464  1,896,405 Receivables from customers  309,953  161,561 Trading assets, at fair value  14,886,249  10,551,557 Property, equipment and capitalized software, net  118,632  96,378 Operating lease right-of-use assets  206,388  213,707 Goodwill  1,148,926  1,148,926 Intangibles (net of accumulated amortization)  131,365  154,931 Deferred taxes  84,267  92,422 Other assets  619,723  528,341 Total assets  27,477,122  20,150,736      Liabilities and equity    Liabilities    Short-term borrowings, net  353,941  12,382 Securities loaned  4,089,659  3,477,831 Securities sold under agreements to repurchase  2,620,126  1,405,639 Payables to broker-dealers and clearing organizations  1,036,371  998,276 Payables to customers  226,743  43,103 Trading liabilities, at fair value  13,569,647  9,105,263 Tax receivable agreement obligations  173,090  181,855 Accounts payable and accrued expenses and other liabilities  803,454  652,352 Operating lease liabilities  253,198  261,169 Long-term borrowings, net  2,025,883  2,039,463 Total liabilities  25,152,112  18,177,333      Total equity  2,325,010  1,973,403      Total liabilities and equity $27,477,122 $20,150,736        As of June 30, 2026Ownership of Virtu Financial LLC Interests: Interests %Virtu Financial, Inc. - Class A Common Stock and Restricted Stock Units  92,955,915  58.1%Non-controlling Interests (Virtu Financial LLC)  66,899,549  41.9%Total Virtu Financial LLC Interests  159,855,464  100.0%         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.

Cautionary Note Regarding Forward-Looking Statements

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.

CONTACT

Investor Relations
Matthew Sandberg
[email protected]

Did Virtu Financial, Inc. Insiders Breach their Fiduciary Duties to Shareholders? PR Newswire NEW YORK, July 29, 2

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.

Cautionary Note Regarding Forward-Looking Statements

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.

CONTACT         

Investor Relations
Matthew Sandberg
[email protected]

Posted by Defense World Staff on Jul 18th, 2026

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.

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