Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $150.00

Virtus Investment Partners (NASDAQ:VRTSGet Rating) had its price objective increased by equities research analysts at Morgan Stanley from $134.00 to $150.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s price objective suggests a potential downside of 31.19% from the company’s previous close.

A number of other brokerages have also recently weighed in on VRTS. Piper Sandler dropped their price target on Virtus Investment Partners from $268.00 to $248.00 in a research report on Tuesday, October 11th. StockNews.com initiated coverage on Virtus Investment Partners in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

Virtus Investment Partners Trading Up 2.9 %

Shares of NASDAQ VRTS opened at $217.99 on Thursday. The stock’s 50 day moving average price is $196.23 and its two-hundred day moving average price is $187.88. Virtus Investment Partners has a 52-week low of $141.80 and a 52-week high of $273.03. The stock has a market capitalization of $1.58 billion, a P/E ratio of 12.79 and a beta of 1.62. The company has a quick ratio of 13.06, a current ratio of 13.06 and a debt-to-equity ratio of 0.32.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The closed-end fund reported $5.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.39 by ($0.63). Virtus Investment Partners had a net margin of 13.83% and a return on equity of 29.33%. The firm had revenue of $185.69 million for the quarter, compared to analyst estimates of $183.12 million. On average, analysts anticipate that Virtus Investment Partners will post 25.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Virtus Investment Partners by 2.3% during the 1st quarter. BlackRock Inc. now owns 1,188,513 shares of the closed-end fund’s stock valued at $285,232,000 after purchasing an additional 27,115 shares in the last quarter. Vanguard Group Inc. boosted its stake in Virtus Investment Partners by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 896,632 shares of the closed-end fund’s stock valued at $215,182,000 after purchasing an additional 48,669 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Virtus Investment Partners by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 262,835 shares of the closed-end fund’s stock valued at $41,929,000 after purchasing an additional 771 shares in the last quarter. State Street Corp boosted its stake in Virtus Investment Partners by 0.5% during the 2nd quarter. State Street Corp now owns 254,603 shares of the closed-end fund’s stock valued at $43,542,000 after purchasing an additional 1,201 shares in the last quarter. Finally, FMR LLC boosted its stake in Virtus Investment Partners by 1.7% during the 2nd quarter. FMR LLC now owns 145,117 shares of the closed-end fund’s stock valued at $24,818,000 after purchasing an additional 2,404 shares in the last quarter. 80.91% 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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