Virtus Investment Partners (VRTS) Rating Increased to Buy at Zacks Investment Research

Virtus Investment Partners (NASDAQ:VRTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $145.00 price objective on the closed-end fund’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.35% from the company’s current price.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

Other research analysts have also recently issued reports about the company. Sandler O’Neill set a $132.00 price objective on Virtus Investment Partners and gave the company a “hold” rating in a research report on Thursday. Barclays lifted their price objective 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. BidaskClub raised Virtus Investment Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet raised Virtus Investment Partners from a “c+” rating to a “b” rating in a research report on Thursday, November 30th. Finally, Morgan Stanley set a $121.00 price objective on Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $132.13.

Virtus Investment Partners (NASDAQ:VRTS) traded up $1.60 during mid-day trading on Friday, hitting $131.40. The stock had a trading volume of 54,112 shares, compared to its average volume of 62,181. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $132.85. The stock has a market cap of $929.11, a PE ratio of 24.51, a P/E/G ratio of 0.33 and a beta of 1.90.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, October 27th. The closed-end fund reported $2.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $116.85 million. During the same period in the previous year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was up 50.3% on a year-over-year basis. equities analysts predict that Virtus Investment Partners will post 7.54 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new stake in Virtus Investment Partners during the 3rd quarter valued at approximately $204,000. Cubist Systematic Strategies LLC raised its stake in Virtus Investment Partners by 1,798.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after purchasing an additional 1,709 shares during the period. BNP Paribas Arbitrage SA raised its stake in Virtus Investment Partners by 52.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after purchasing an additional 848 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Virtus Investment Partners by 73.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after purchasing an additional 1,150 shares during the period. Finally, Voya Investment Management LLC raised its stake in Virtus Investment Partners by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after purchasing an additional 427 shares during the period. 95.78% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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