Virtus Investment Partners (NASDAQ:VRTS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $122.00 target price on the closed-end fund’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.78% from the stock’s previous close.
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. “
Several other brokerages also recently issued reports on VRTS. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. TheStreet raised ZTO Express (Cayman) from a “c+” rating to a “b” rating in a report on Thursday, May 16th. Morgan Stanley cut their price target on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.00.
Shares of NASDAQ VRTS traded down $0.02 during trading hours on Friday, hitting $111.13. The company had a trading volume of 71,207 shares, compared to its average volume of 60,228. The stock has a market capitalization of $776.64 million, a PE ratio of 9.06, a P/E/G ratio of 2.12 and a beta of 1.63. Virtus Investment Partners has a 1-year low of $70.00 and a 1-year high of $134.25. The firm’s 50 day moving average price is $106.07.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, April 26th. The closed-end fund reported $2.73 EPS for the quarter, beating the consensus estimate of $2.31 by $0.42. The company had revenue of $130.70 million during the quarter, compared to the consensus estimate of $131.64 million. Virtus Investment Partners had a return on equity of 20.19% and a net margin of 13.35%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS. Equities research analysts predict that Virtus Investment Partners will post 13.19 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund lifted its holdings in shares of Virtus Investment Partners by 1.8% during the first quarter. Texas Permanent School Fund now owns 4,760 shares of the closed-end fund’s stock worth $464,000 after buying an additional 83 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Virtus Investment Partners by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,154 shares of the closed-end fund’s stock worth $409,000 after buying an additional 113 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in shares of Virtus Investment Partners by 14.8% during the fourth quarter. Neuburgh Advisers LLC now owns 992 shares of the closed-end fund’s stock worth $79,000 after buying an additional 128 shares in the last quarter. BW Gestao de Investimentos Ltda. lifted its holdings in shares of Virtus Investment Partners by 1.4% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 9,756 shares of the closed-end fund’s stock worth $775,000 after buying an additional 138 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Virtus Investment Partners by 67.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 370 shares of the closed-end fund’s stock worth $29,000 after buying an additional 149 shares in the last quarter. 93.80% of the stock is owned by institutional investors.
Virtus Investment Partners Company Profile
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.
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