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Virtu Financial Inc . (NASDAQ:VIRT) stock soared to a 52-week high, reaching $38.47, marking a significant milestone for the $5.93 billion market cap company. According to InvestingPro analysis, the stock is currently trading near its Fair Value. This peak reflects a robust performance over the past year, with the stock delivering an impressive 105.82% return. Investors have shown increased confidence in Virtu Financial's business model and future prospects, supported by its perfect Piotroski Score of 9 and attractive P/E ratio of 19.2. The company's strategic initiatives and strong financial results, including a steady 2.57% dividend yield, have played a crucial role in this growth. InvestingPro subscribers can access 10+ additional investment tips and comprehensive analysis through the Pro Research Report, transforming complex Wall Street data into actionable intelligence.
In other recent news, Virtu Financial has been experiencing significant developments. The Pulte Family Office, an activist shareholder, has publicly called for the sale of the company, expressing dissatisfaction with the current management and suggesting that a change in ownership could unlock Virtu Financial's potential. No official action has been taken by Virtu Financial's board yet in response to this development.
In the realm of financial analysis, Evercore ISI has adjusted its price target for Virtu Financial to $32.00 from $29.00, maintaining an In-Line rating on the stock. This adjustment follows the company's third-quarter performance, which met expectations and mirrored the previous quarter's results. Evercore ISI's future earnings forecasts for Virtu Financial have seen a slight upward revision as a result.
Finally, Virtu Financial reported steady third-quarter results amid mixed market conditions. The company announced an adjusted earnings per share (EPS) of $0.82 and an adjusted net trading income of $388 million. Noteworthy strategic initiatives include the launch of Virtu Technology Solutions and a focus on crypto options and ETF block trading. These are the latest developments surrounding Virtu Financial.
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