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Virtu Q2 results are in: Avg Net Trading Income -49% YoY Expense guidance unchanged Buybacks ~50% complete Obviously not a great Q given lower volatility, but long term story doesn't look to have changed imo.pic.twitter.com/YA3ksmc4t6
The $0.63 EPS print may concern some bc annualized it's under mgmt's "worst case" $3.00 figure. The core question here is "was volatility THAT low this quarter?" I'll take my lumps, am still long the stock
roaringkitty level of commitment
He likes the stock.
I understood worst case 2b $2.00, likely case to be $3. With this print, the likely case is coming down. Unfortunately this means -revisions and stock will face headwinds IMO. Buyback not large enough to offset.
When did they say $3 eps was worst case? I recall they set a floor of $2 in Q4 call.
Just went back and checked the Q4 transcript - you're right, its $2. My bad
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