Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $250.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target lifted by equities research analysts at TD Cowen from $245.00 to $250.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the closed-end fund’s stock. TD Cowen’s price target would suggest a potential upside of 13.12% from the stock’s previous close.

Several other research firms have also commented on VRTS. Morgan Stanley lifted their price target on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Piper Sandler reduced their target price on shares of Virtus Investment Partners from $275.00 to $265.00 and set an “overweight” rating for the company in a research note on Monday.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS traded down $4.68 during midday trading on Monday, hitting $221.00. The company’s stock had a trading volume of 34,236 shares, compared to its average volume of 51,513. Virtus Investment Partners has a 1-year low of $165.00 and a 1-year high of $263.39. The firm’s fifty day moving average price is $235.74 and its 200-day moving average price is $221.94. The firm has a market cap of $1.59 billion, a P/E ratio of 13.31 and a beta of 1.52.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 EPS for the quarter, meeting the consensus estimate of $5.41. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.68%. The business had revenue of $200.24 million during the quarter, compared to analyst estimates of $203.54 million. As a group, research analysts predict that Virtus Investment Partners will post 27.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Virtus Investment Partners by 44.9% in the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock worth $35,000 after acquiring an additional 53 shares during the period. Blue Trust Inc. lifted its stake in shares of Virtus Investment Partners by 550.0% in the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after acquiring an additional 154 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Virtus Investment Partners in the 4th quarter worth approximately $222,000. QRG Capital Management Inc. acquired a new stake in shares of Virtus Investment Partners in the 4th quarter worth approximately $250,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Virtus Investment Partners in the 3rd quarter worth approximately $285,000. 80.52% of the stock is owned by institutional investors and hedge funds.

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.