Virtus Investment Partners (NASDAQ:VRTS) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday.
A number of other equities research analysts also recently commented on VRTS. Morgan Stanley set a $121.00 target price on Virtus Investment Partners and gave the stock a “hold” rating in a research report on Monday, October 23rd. Barclays boosted their target price on Virtus Investment Partners from $116.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. BidaskClub upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, Goldman Sachs Group upgraded Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 target price on the stock in a research report on Tuesday, January 9th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $139.00.
Virtus Investment Partners (VRTS) traded down $0.15 during trading hours on Wednesday, hitting $125.75. The company had a trading volume of 19,800 shares, compared to its average volume of 64,433. The stock has a market capitalization of $901.19, a P/E ratio of 31.84, a P/E/G ratio of 0.28 and a beta of 1.79. Virtus Investment Partners has a 12 month low of $97.60 and a 12 month high of $134.65.
Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.18. The company had revenue of $128.00 million for the quarter, compared to the consensus estimate of $127.09 million. Virtus Investment Partners had a return on equity of 13.93% and a net margin of 8.70%. The firm’s revenue for the quarter was up 60.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 earnings per share. research analysts anticipate that Virtus Investment Partners will post 12.22 EPS for the current year.
A number of hedge funds have recently modified their holdings of VRTS. Point72 Asset Management L.P. raised its position in Virtus Investment Partners by 2,031.4% during the third 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 during the period. BlackRock Inc. raised its holdings in shares of Virtus Investment Partners by 8.3% in the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after buying an additional 63,155 shares during the period. Vanguard Group Inc. raised its holdings in shares of Virtus Investment Partners by 8.6% in the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock worth $78,051,000 after buying an additional 55,871 shares during the period. WCM Investment Management CA raised its holdings in shares of Virtus Investment Partners by 494.8% in the fourth quarter. WCM Investment Management CA now owns 55,076 shares of the closed-end fund’s stock worth $6,336,000 after buying an additional 45,817 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Virtus Investment Partners by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock worth $20,302,000 after buying an additional 42,139 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.
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Virtus Investment Partners Company Profile
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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