Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $224.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target raised by stock analysts at Morgan Stanley from $211.00 to $224.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s price objective points to a potential upside of 2.48% from the company’s previous close.

VRTS has been the topic of several other reports. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Piper Sandler boosted their price target on shares of Virtus Investment Partners from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, TD Cowen cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $285.00 to $264.00 in a report on Monday, April 8th.

Virtus Investment Partners Stock Down 0.4 %

Shares of NASDAQ:VRTS opened at $218.58 on Wednesday. The company’s fifty day moving average is $236.37 and its two-hundred day moving average is $219.99. Virtus Investment Partners has a 12-month low of $165.00 and a 12-month high of $263.39. The company has a market cap of $1.57 billion, a P/E ratio of 12.34 and a beta of 1.52.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $6.11 EPS for the quarter, beating the consensus estimate of $5.96 by $0.15. Virtus Investment Partners had a net margin of 15.45% and a return on equity of 18.83%. The business had revenue of $214.59 million for the quarter, compared to analysts’ expectations of $196.20 million. During the same period in the previous year, the company posted $5.17 EPS. Equities research analysts anticipate that Virtus Investment Partners will post 26.89 earnings per share for the current year.

Institutional Investors Weigh In On Virtus Investment Partners

A number of large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in Virtus Investment Partners in the first quarter worth $901,000. Barclays PLC boosted its holdings in Virtus Investment Partners by 128.0% during the fourth quarter. Barclays PLC now owns 12,818 shares of the closed-end fund’s stock valued at $3,099,000 after acquiring an additional 7,197 shares during the period. Vident Advisory LLC boosted its holdings in Virtus Investment Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 2,562 shares of the closed-end fund’s stock valued at $619,000 after acquiring an additional 146 shares during the period. Nuveen Asset Management LLC boosted its holdings in Virtus Investment Partners by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 59,223 shares of the closed-end fund’s stock valued at $14,318,000 after acquiring an additional 157 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Virtus Investment Partners by 66.3% during the fourth quarter. Public Sector Pension Investment Board now owns 14,019 shares of the closed-end fund’s stock valued at $3,389,000 after acquiring an additional 5,590 shares during the period. 80.52% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

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.