Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $325.00 at Piper Sandler

Virtus Investment Partners (NASDAQ:VRTSGet Rating) had its price target lowered by analysts at Piper Sandler from $375.00 to $325.00 in a note issued to investors on Monday, The Fly reports. Piper Sandler’s price objective suggests a potential upside of 83.45% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, March 10th. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley reduced their price objective on shares of Virtus Investment Partners from $240.00 to $221.00 and set an “underweight” rating for the company in a research note on Tuesday, April 26th.

Shares of NASDAQ VRTS opened at $177.16 on Monday. The business has a 50 day moving average price of $221.24. The company has a market capitalization of $1.32 billion, a P/E ratio of 6.89 and a beta of 1.56. Virtus Investment Partners has a 52-week low of $176.09 and a 52-week high of $338.80.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last announced its earnings results on Friday, February 4th. The closed-end fund reported $10.36 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $228.57 million. During the same period in the prior year, the company earned $5.15 earnings per share. On average, analysts expect that Virtus Investment Partners will post 34.23 earnings per share for the current year.

In related news, Director W Howard Morris bought 435 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was purchased at an average price of $231.00 per share, for a total transaction of $100,485.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Several large investors have recently modified their holdings of VRTS. Arrowstreet Capital Limited Partnership lifted its position in Virtus Investment Partners by 3.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 39,533 shares of the closed-end fund’s stock valued at $12,268,000 after purchasing an additional 1,140 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Virtus Investment Partners by 2.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 98,553 shares of the closed-end fund’s stock worth $30,583,000 after acquiring an additional 2,194 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $220,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Virtus Investment Partners by 180.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,100 shares of the closed-end fund’s stock worth $2,203,000 after acquiring an additional 4,568 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings 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 last quarter. Hedge funds and other institutional investors own 84.05% of the company’s stock.

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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