Morgan Stanley Trims Virtus Investment Partners (NASDAQ:VRTS) Target Price to $221.00

Virtus Investment Partners (NASDAQ:VRTSGet Rating) had its target price dropped by equities researchers at Morgan Stanley from $240.00 to $221.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s target price points to a potential upside of 11.94% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lowered their target price on Virtus Investment Partners from $400.00 to $375.00 and set an “overweight” rating on the stock in a research note on Friday, March 18th. Zacks Investment Research lowered Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 10th. Finally, StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, April 18th.

Shares of NASDAQ:VRTS opened at $197.42 on Tuesday. The company’s fifty day moving average is $227.07. Virtus Investment Partners has a 1-year low of $190.77 and a 1-year high of $338.80. The company has a market cap of $1.48 billion, a PE ratio of 7.58 and a beta of 1.56.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last issued its quarterly earnings data on Friday, February 4th. The closed-end fund reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.93 by $0.43. Virtus Investment Partners had a return on equity of 36.02% and a net margin of 21.25%. The business had revenue of $232.60 million for the quarter, compared to analysts’ expectations of $228.57 million. During the same period last year, the business earned $5.15 EPS. Sell-side analysts anticipate that Virtus Investment Partners will post 34.7 earnings per share for the current year.

In related news, Director W Howard Morris bought 435 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were purchased at an average cost of $231.00 per share, with a total value of $100,485.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in Virtus Investment Partners by 1.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,399 shares of the closed-end fund’s stock valued at $713,000 after purchasing an additional 39 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Virtus Investment Partners by 0.9% in the 3rd quarter. Voya Investment Management LLC now owns 5,422 shares of the closed-end fund’s stock valued at $1,682,000 after acquiring an additional 46 shares during the period. Ellsworth Advisors LLC grew its stake in Virtus Investment Partners by 2.5% during the 4th quarter. Ellsworth Advisors LLC now owns 1,975 shares of the closed-end fund’s stock worth $587,000 after buying an additional 48 shares during the last quarter. LPL Financial LLC grew its stake in Virtus Investment Partners by 6.6% during the 4th quarter. LPL Financial LLC now owns 787 shares of the closed-end fund’s stock worth $234,000 after buying an additional 49 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in Virtus Investment Partners by 3.4% during the 4th quarter. Equitable Trust Co. now owns 1,534 shares of the closed-end fund’s stock worth $456,000 after buying an additional 51 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.

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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