VIRT - Virtu Financial, Inc.
18.08 -0.06 (-0.34%)
After hours: 4:11PM EDT
| Previous Close | 18.29 |
| Open | 18.12 |
| Bid | 18.14 x 1400 |
| Ask | 18.16 x 800 |
| Day's Range | 17.85 - 18.26 |
| 52 Week Range | 17.67 - 29.17 |
| Volume | 657,976 |
| Avg. Volume | 1,042,203 |
| Market Cap | 3.458B |
| Beta (3Y Monthly) | -0.93 |
| PE Ratio (TTM) | 39.26 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.96 (5.25%) |
| Ex-Dividend Date | 2019-08-30 |
| 1y Target Est | N/A |
- Thomson Reuters StreetEvents
Edited Transcript of VIRT earnings conference call or presentation 8-Aug-19 11:30am GMT
Q2 2019 Virtu Financial Inc Earnings Call
Motley FoolVirtu Financial Inc (VIRT) Q2 2019 Earnings Call Transcript
VIRT earnings call for the period ending June 30, 2019.
- Motley Fool
Why Virtu Financial Stock Plunged Today
Calmer markets weighed on the trading firm's profits.
- Bloomberg
Virtu Falls on Trading Profit Worries; Tradeweb Also Drops
(Bloomberg) -- Shares of Virtu Financial Inc. plummeted 18% on Thursday to the lowest since December 2017 after reporting results that raised questions about volatility and the profitability of trading. Tradeweb Markets Inc. also fell 3.5% to the lowest since early July, despite its better-than-expected earnings.Virtu’s second-quarter profit missed the lowest analyst estimate, while CEO Douglas Cifu on the company’s conference call said that “market volume in this quarter presented one of the lowest market making opportunities in many years,” including “significantly less retail engagement.”Cifu also said he hoped President Trump would keep tweeting -- which can spur volatility -- as “that’s a good thing for our business.” August, which has featured an increase in U.S.-China trade tensions after Trump tweeted about higher tariffs, has seen a “material increase” in volatility after July’s market conditions were similar to those in the second quarter, Cifu said.Virtu’s trading activity fell in a “muted environment,” though August has so far been better, Jefferies’ analyst Daniel Fannon wrote in a note. Compass Point’s Chris Allen wrote that “we were expecting a soft quarter, but even in that context results were disappointing.”Shares of Tradeweb, an electronic trading platform that trades Treasuries, bonds and derivatives, initially rose after its second-quarter revenue and adjusted earnings per share topped analysts’ estimates. Yet, the stock erased the gain to fall as much as 5% by mid-morning.On his conference call, Tradeweb CEO Lee Olesky said the company reported record results amid “a challenging environment for trading in a market characterized by low volatility.”“Wholesale and institutional channels are much more active in volatile movements and we expect to continue to see that,” Olesky said on the call. Retail brokers, however “tend to be less inclined to buy bonds at the same clip as other sectors during bouts of volatility.”Citi analyst Ben Herbert noted that Tradeweb’s July equities average daily volume of $5.3 billion missed his estimate of $6.4 billion. Overall, he found “not much to dislike” in the results.Retail broker clients account for only about 10% to 12% of revenue, according to Tradeweb. Equities accounts for 4% to 5% of total revenue, the company said.Exchange stocks, including Intercontinental Exchange Inc., Cboe Global Markets Inc. and CME Group Inc. underperformed financial stocks as a whole on Thursday, as did trading-sensitive Goldman Sachs Group Inc. In Canada, though, Toronto Stock Exchange parent TMX Group rose to a record high.The worst performer -- and only decliner -- in the S&P 500 Financials Index early Thursday afternoon was Charles Schwab Corp., which extended losses for a second day after Fidelity said it would automatically direct investors’ cash into higher yielding options.(Adds size of retail and equities business in seventh paragraph. A previous version of this story corrected an analyst name and details of the results.)To contact the reporter on this story: Felice Maranz in New York at fmaranz@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Courtney DentchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Barrons.com
Trump Should ‘Keep Tweeting,’ Wall Street Trading Boss Says
High-frequency trader says market selloff sparked by presidential tweet led to a recovery in its fortunes
- Zacks
Virtu Financial (VIRT) Q2 Earnings and Revenues Lag Estimates
Virtu Financial (VIRT) delivered earnings and revenue surprises of -42.86% and -6.85%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
- Reuters
Exchange fee fight moves from NYSE floor to data centre rooftop
The fight between brokers and exchanges around fees and access to trading information has moved from stock exchange floors to data centre rooftops. A move by the New York Stock Exchange to install microwave equipment on the roof of its data centre to speed up data transmissions is "anti-competitive" and could result in higher trading costs, trading firm Virtu Financial said in a letter to the U.S. Securities and Exchange Commission. Virtu opposed the NYSE's plan because it would allow only one wireless provider - chosen by the exchange - to locate an antenna on the rooftop of the exchange operator's Mahwah, New Jersey, data centre, due to "resource and engineering constraints," according to the letter, which was posted to the SEC's website on July 25.
- Reuters
Exchange fee fight moves from NYSE floor to data center rooftop
The fight between brokers and exchanges around fees and access to trading information has moved from stock exchange floors to data center rooftops. A move by the New York Stock Exchange to install microwave equipment on the roof of its data center to speed up data transmissions is "anti-competitive" and could result in higher trading costs, trading firm Virtu Financial said in a letter to the U.S. Securities and Exchange Commission. Virtu opposed the NYSE's plan because it would allow only one wireless provider - chosen by the exchange - to locate an antenna on the rooftop of the exchange operator's Mahwah, New Jersey, data center, due to "resource and engineering constraints," according to the letter, which was posted to the SEC's website on July 25.
- Zacks
Earnings Preview: Virtu Financial (VIRT) Q2 Earnings Expected to Decline
Virtu Financial (VIRT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Zacks
IX vs. VIRT: Which Stock Is the Better Value Option?
IX vs. VIRT: Which Stock Is the Better Value Option?
- Zacks
Virtu Financial (VIRT) to Report Q2 Results: What to Know Ahead of the Release
Virtu Financial (VIRT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Simply Wall St.
Is Virtu Financial, Inc. (NASDAQ:VIRT) Overpaying Its CEO?
Doug Cifu has been the CEO of Virtu Financial, Inc. (NASDAQ:VIRT) since 2013. First, this article will compare CEO...
- Zacks
SYF or VIRT: Which Is the Better Value Stock Right Now?
SYF vs. VIRT: Which Stock Is the Better Value Option?
- Insider Monkey
Here is What Hedge Funds Think About Virtu Financial Inc (VIRT)
Hedge funds are known to underperform the bull markets but that's not because they are terrible at stock picking. Hedge funds underperform because their net exposure in only 40-70% and they charge exorbitant fees. No one knows what the future holds and how market participants will react to the bountiful news that floods in each […]
- TheStreet.com
NYSE Trader's Instant Reaction to the Fed Decision
Matthew Cheslock, a trader at Virtu Financial, breaks down what he's thinking about the Federal Reserve's decision to leave interest rates unchanged.
- Markit
See what the IHS Markit Score report has to say about Virtu Financial Inc.
Virtu Financial Inc NASDAQ/NGS:VIRTView full report here! Summary * Bearish sentiment is low and declining * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for VIRT with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on June 14. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold VIRT had net inflows of $1.84 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
- Simply Wall St.
Read This Before You Buy Virtu Financial, Inc. (NASDAQ:VIRT) Because Of Its P/E Ratio
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll show how you can use...
- CorpGov.com
Argo’s Tack Runs Danger of Losing the Longer Race
Despite Healthy Stock Performance, Spotlight Remains on Poor Governance and Lavish Spending by CEO By John Jannarone Argo Group International Holdings looks set for a showdown next week with activist investor Voce Capital Management. The risk: Argo may be overly focused on winning a small battle at the expense of defeat in a bigger […]
