Virtus Investment Partners (NASDAQ:VRTS) had its target price reduced by Barclays from $140.00 to $115.00 in a report issued on Monday, October 29th. Barclays currently has an equal weight rating on the closed-end fund’s stock.
A number of other analysts also recently issued reports on VRTS. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $126.00 target price on the stock in a research report on Saturday, October 13th. ValuEngine downgraded Virtus Investment Partners from a hold rating to a sell rating in a research report on Wednesday, July 4th. BidaskClub raised Virtus Investment Partners from a hold rating to a buy rating in a research report on Thursday, August 2nd. Sandler O’Neill set a $140.00 target price on Virtus Investment Partners and gave the company a hold rating in a research report on Friday, July 13th. Finally, Morgan Stanley lifted their target price on Virtus Investment Partners from $137.00 to $144.00 and gave the company an equal weight rating in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and an average price target of $128.67.
Shares of VRTS traded up $1.20 during midday trading on Monday, hitting $95.47. The stock had a trading volume of 31,273 shares, compared to its average volume of 49,015. Virtus Investment Partners has a twelve month low of $93.89 and a twelve month high of $138.02. The company has a market capitalization of $673.71 million, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.31 and a beta of 1.40.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.34 by $0.30. Virtus Investment Partners had a return on equity of 19.05% and a net margin of 14.55%. The firm had revenue of $152.20 million for the quarter, compared to the consensus estimate of $149.06 million. During the same quarter last year, the business posted $2.30 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts expect that Virtus Investment Partners will post 12.56 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in Virtus Investment Partners during the second quarter worth approximately $215,000. Aperio Group LLC acquired a new position in Virtus Investment Partners during the second quarter worth approximately $218,000. Capital Fund Management S.A. acquired a new position in Virtus Investment Partners during the third quarter worth approximately $228,000. Crossmark Global Holdings Inc. acquired a new position in Virtus Investment Partners during the second quarter worth approximately $239,000. Finally, SG Americas Securities LLC acquired a new position in Virtus Investment Partners during the second quarter worth approximately $272,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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