Virtus Investment Partners (VRTS) Downgraded to Hold at BidaskClub

Virtus Investment Partners (NASDAQ:VRTS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

VRTS has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. TheStreet lowered shares of Virtus Investment Partners from a “b” rating to a “c+” rating in a report on Wednesday, February 14th. Morgan Stanley boosted their price target on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays boosted their price target on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Finally, Sandler O’Neill set a $136.00 price target on shares of Virtus Investment Partners and gave the company a “hold” rating in a report on Monday, February 5th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $139.00.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at $122.30 on Friday. Virtus Investment Partners has a fifty-two week low of $97.60 and a fifty-two week high of $134.65. The company has a market cap of $873.28, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 0.27 and a beta of 1.79.

Virtus Investment Partners (NASDAQ:VRTS) last released 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. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.93%. The firm had revenue of $128.00 million during the quarter, compared to analyst estimates of $127.09 million. During the same quarter in the previous year, the business earned $1.75 EPS. The business’s quarterly revenue was up 60.2% compared to the same quarter last year. equities research analysts predict that Virtus Investment Partners will post 12.36 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in VRTS. Wells Fargo & Company MN grew its holdings in shares of Virtus Investment Partners by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock valued at $488,000 after buying an additional 21 shares during the period. Alliancebernstein L.P. lifted its position in Virtus Investment Partners by 21.2% in the 2nd quarter. Alliancebernstein L.P. now owns 9,723 shares of the closed-end fund’s stock valued at $1,079,000 after acquiring an additional 1,700 shares in the last quarter. Teachers Advisors LLC lifted its position in Virtus Investment Partners by 21.6% in the 2nd quarter. Teachers Advisors LLC now owns 11,940 shares of the closed-end fund’s stock valued at $1,325,000 after acquiring an additional 2,121 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Virtus Investment Partners by 28.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 17,891 shares of the closed-end fund’s stock valued at $1,985,000 after acquiring an additional 3,979 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Virtus Investment Partners by 22.0% in the 2nd quarter. New York State Common Retirement Fund now owns 7,200 shares of the closed-end fund’s stock valued at $799,000 after acquiring an additional 1,299 shares in the last quarter. 96.96% of the stock is 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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