$231.33 Million in Sales Expected for Virtus Investment Partners, Inc. (NASDAQ:VRTS) This Quarter

Wall Street analysts predict that Virtus Investment Partners, Inc. (NASDAQ:VRTSGet Rating) will report $231.33 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Virtus Investment Partners’ earnings, with estimates ranging from $224.97 million to $237.68 million. Virtus Investment Partners reported sales of $187.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.5%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Virtus Investment Partners will report full-year sales of $885.72 million for the current year, with estimates ranging from $871.63 million to $899.80 million. For the next financial year, analysts expect that the firm will report sales of $905.40 million, with estimates ranging from $849.42 million to $961.37 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Virtus Investment Partners.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last released its quarterly earnings data on Friday, February 4th. The closed-end fund reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.93 by $0.43. Virtus Investment Partners had a net margin of 21.25% and a return on equity of 36.02%. The business had revenue of $232.60 million during the quarter, compared to analyst estimates of $228.57 million. During the same quarter in the previous year, the business earned $5.15 EPS.

Several equities research analysts recently issued reports on the stock. Morgan Stanley lowered shares of Virtus Investment Partners from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $393.00 to $240.00 in a research note on Friday, April 8th. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, March 18th. Zacks Investment Research lowered shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 10th. Finally, StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, April 8th.

VRTS stock opened at $207.01 on Thursday. Virtus Investment Partners has a 1 year low of $197.24 and a 1 year high of $338.80. The firm has a fifty day simple moving average of $237.38. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 7.61 and a beta of 1.56.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, April 28th. Virtus Investment Partners’s dividend payout ratio is 23.03%.

In other news, Director W Howard Morris bought 435 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was purchased at an average price of $231.00 per share, with a total value of $100,485.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in shares of Virtus Investment Partners during the 4th quarter worth about $92,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Virtus Investment Partners by 453.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 404 shares of the closed-end fund’s stock worth $126,000 after purchasing an additional 331 shares during the period. GSA Capital Partners LLP bought a new position in shares of Virtus Investment Partners during the 3rd quarter worth about $204,000. 6 Meridian bought a new position in shares of Virtus Investment Partners during the 3rd quarter worth about $206,000. Finally, Alterna Wealth Management Inc. bought a new position in shares of Virtus Investment Partners during the 4th quarter worth about $206,000. Institutional investors own 84.05% of the company’s stock.

About Virtus Investment Partners (Get Rating)

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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Earnings History and Estimates for Virtus Investment Partners (NASDAQ:VRTS)

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