Virtus Investment Partners, Inc. (VRTS) PT Raised to $116.00

Virtus Investment Partners, Inc. (NASDAQ:VRTS) had its price target lifted by Barclays PLC from $113.00 to $116.00 in a research note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the closed-end fund’s stock. Barclays PLC’s price objective indicates a potential downside of 5.03% from the stock’s current price.

VRTS has been the topic of several other research reports. BidaskClub lowered Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Credit Suisse Group upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $141.00 to $147.00 in a research note on Monday, July 31st. Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 target price on the stock in a research note on Thursday, September 28th. Finally, Bank of America Corporation upgraded Virtus Investment Partners from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $112.00 to $130.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $129.33.

Shares of Virtus Investment Partners (NASDAQ:VRTS) traded up 0.307% during midday trading on Tuesday, reaching $122.525. The company had a trading volume of 37,935 shares. The stock has a market capitalization of $884.26 million, a PE ratio of 23.842 and a beta of 1.76. The company’s 50 day moving average price is $111.14 and its 200 day moving average price is $109.09. Virtus Investment Partners has a 52-week low of $92.80 and a 52-week high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.05). The firm had revenue of $94.10 million for the quarter, compared to analyst estimates of $91.78 million. Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. Equities research analysts expect that Virtus Investment Partners will post $7.63 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in VRTS. Citadel Advisors LLC purchased a new position in shares of Virtus Investment Partners in the 1st quarter valued at approximately $18,618,000. Vanguard Group Inc. grew its stake in shares of Virtus Investment Partners by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after purchasing an additional 135,509 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Virtus Investment Partners by 23.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after purchasing an additional 90,422 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Virtus Investment Partners by 356.1% in the 1st quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock valued at $9,225,000 after purchasing an additional 68,012 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Virtus Investment Partners by 8.3% in the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after purchasing an additional 63,155 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

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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