Piper Sandler lowered the firm’s price target on Virtu Financial to $21 from $24 and keeps an Overweight rating on the shares. The firm notes Virtu reported adjusted Q4 EPS of 27c, below its estimate of 32c and the consensus estimate of 39c. The diluted share count fell 2% quarter-over-quarter to 163.9M shares as Virtu repurchased 2.4M shares totaling $44M in the quarter, Piper adds.
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