Virtus Investment Partners (NASDAQ:VRTS) Upgraded to “Buy” by StockNews.com

Virtus Investment Partners (NASDAQ:VRTSGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on VRTS. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 10th. Morgan Stanley downgraded shares of Virtus Investment Partners from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $393.00 to $240.00 in a research report on Friday, April 8th. Finally, Piper Sandler lowered 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 report on Friday, March 18th.

VRTS traded down $4.38 on Monday, reaching $198.62. The company’s stock had a trading volume of 33,570 shares, compared to its average volume of 56,716. The firm has a market cap of $1.48 billion, a PE ratio of 7.62 and a beta of 1.56. Virtus Investment Partners has a 1 year low of $197.24 and a 1 year high of $338.80. The firm has a 50 day moving average of $232.74.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last released its quarterly earnings data on Friday, February 4th. The closed-end fund reported $10.36 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $232.60 million during the quarter, compared to the consensus estimate of $228.57 million. During the same quarter in the previous year, the company posted $5.15 earnings per share. On average, sell-side analysts predict that Virtus Investment Partners will post 34.7 EPS for the current year.

In other news, Director W Howard Morris bought 435 shares of Virtus Investment Partners stock in a transaction on Thursday, March 17th. The stock was purchased at an average cost of $231.00 per share, with a total value of $100,485.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Several large investors have recently modified their holdings of VRTS. Nisa Investment Advisors LLC acquired a new stake in shares of Virtus Investment Partners in the 4th quarter worth approximately $92,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Virtus Investment Partners by 453.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 404 shares of the closed-end fund’s stock worth $126,000 after acquiring an additional 331 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Virtus Investment Partners in the 3rd quarter worth approximately $204,000. 6 Meridian acquired a new stake in shares of Virtus Investment Partners in the 3rd quarter worth approximately $206,000. Finally, Alterna Wealth Management Inc. acquired a new stake in shares of Virtus Investment Partners in the 4th quarter worth approximately $206,000. 84.05% of the stock is owned by institutional investors.

Virtus Investment Partners Company Profile (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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