ValuEngine downgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a strong sell rating in a report published on Thursday, ValuEngine reports.
VRTS has been the topic of several other research reports. BidaskClub upgraded shares of Virtus Investment Partners from a sell rating to a hold rating in a research note on Friday, June 28th. Bank of America restated a neutral rating and issued a $118.00 price target (down previously from $130.00) on shares of Virtus Investment Partners in a research note on Thursday, June 6th. TheStreet lowered shares of Virtus Investment Partners from a b- rating to a c+ rating in a research note on Thursday, May 16th. Zacks Investment Research upgraded shares of Virtus Investment Partners from a hold rating to a strong-buy rating and set a $122.00 price target on the stock in a research note on Saturday, July 13th. Finally, Morgan Stanley dropped their price target on shares of Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating on the stock in a research note on Tuesday, July 9th. One 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 issued a strong buy rating to the stock. Virtus Investment Partners presently has a consensus rating of Hold and a consensus price target of $110.00.
Shares of NASDAQ:VRTS opened at $101.01 on Thursday. The company has a 50 day moving average price of $107.08. Virtus Investment Partners has a 52 week low of $70.00 and a 52 week high of $132.80. The firm has a market capitalization of $716.48 million, a price-to-earnings ratio of 8.24, a P/E/G ratio of 1.51 and a beta of 1.64.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 26th. The closed-end fund reported $3.63 EPS for the quarter, beating the consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.42%. The company had revenue of $140.49 million for the quarter, compared to analyst estimates of $144.92 million. During the same quarter last year, the business earned $2.73 earnings per share. Virtus Investment Partners’s revenue was up 5.7% compared to the same quarter last year. Analysts anticipate that Virtus Investment Partners will post 13.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.18%. Virtus Investment Partners’s dividend payout ratio is presently 17.94%.
Several hedge funds and other institutional investors have recently bought and sold shares of VRTS. Norges Bank acquired a new position in shares of Virtus Investment Partners during the fourth quarter valued at approximately $6,569,000. WCM Investment Management LLC boosted its holdings in Virtus Investment Partners by 70.0% during the first quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock worth $12,213,000 after buying an additional 51,542 shares in the last quarter. Clark Capital Management Group Inc. bought a new stake in Virtus Investment Partners during the second quarter worth approximately $3,410,000. Marshall Wace LLP bought a new stake in Virtus Investment Partners during the first quarter worth approximately $1,817,000. Finally, Geode Capital Management LLC boosted its holdings in Virtus Investment Partners by 15.1% during the fourth quarter. Geode Capital Management LLC now owns 81,335 shares of the closed-end fund’s stock worth $6,459,000 after buying an additional 10,653 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
About Virtus Investment Partners
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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