Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $130.00.
VRTS has been the topic of several recent research reports. Morgan Stanley set a $121.00 price target on Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Jefferies Group LLC restated a “hold” rating and issued a $127.00 price target (up previously from $117.00) on shares of Virtus Investment Partners in a research report on Tuesday, October 10th. Barclays PLC boosted their price target on Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Zacks Investment Research cut Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Bank of America Corporation upgraded Virtus Investment Partners from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $112.00 to $130.00 in a research report on Monday, October 9th.
A number of hedge funds have recently modified their holdings of VRTS. Vanguard Group Inc. increased its position in Virtus Investment Partners by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after acquiring an additional 135,509 shares during the period. Point72 Asset Management L.P. boosted its holdings in Virtus Investment Partners by 2,031.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock valued at $8,657,000 after purchasing an additional 71,100 shares in the last quarter. BlackRock Inc. boosted its holdings in Virtus Investment Partners by 8.3% in the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after purchasing an additional 63,155 shares in the last quarter. Mangrove Partners purchased a new stake in Virtus Investment Partners in the 2nd quarter valued at approximately $4,985,000. Finally, JPMorgan Chase & Co. boosted its holdings in Virtus Investment Partners by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock valued at $20,302,000 after purchasing an additional 42,139 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.
Shares of Virtus Investment Partners (VRTS) opened at $115.55 on Friday. Virtus Investment Partners has a 52-week low of $97.60 and a 52-week high of $128.10. The company has a market capitalization of $833.91, a PE ratio of 17.08, a PEG ratio of 0.62 and a beta of 1.86.
Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, October 27th. The closed-end fund reported $2.30 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The firm had revenue of $123.70 million for the quarter, compared to analyst estimates of $116.85 million. During the same quarter last year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. research analysts expect that Virtus Investment Partners will post 7.52 earnings per share for the current fiscal year.
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About Virtus Investment Partners
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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