Credit Suisse Group Boosts Virtus Investment Partners, Inc. (VRTS) Price Target to $147.00
Virtus Investment Partners, Inc. (NASDAQ:VRTS) had its target price hoisted by analysts at Credit Suisse Group from $141.00 to $147.00 in a research note issued to investors on Tuesday. The brokerage currently has a “neutral” rating on the closed-end fund’s stock. Credit Suisse Group’s target price suggests a potential upside of 27.77% from the company’s previous close.
The analysts wrote, “attractive”
Other research analysts have also issued research reports about the stock. Jefferies Group LLC set a $110.00 price target on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research note on Sunday, April 30th. Zacks Investment Research lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. BidaskClub lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $114.00 price target (up previously from $105.00) on shares of Virtus Investment Partners in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $119.80.
Shares of Virtus Investment Partners (VRTS) traded down 0.22% during mid-day trading on Tuesday, reaching $115.05. 37,239 shares of the company were exchanged. The company has a market capitalization of $804.08 million, a price-to-earnings ratio of 22.39 and a beta of 1.72. The firm’s 50-day moving average is $113.17 and its 200-day moving average is $108.95. Virtus Investment Partners has a 12 month low of $87.03 and a 12 month high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.05. Virtus Investment Partners had a return on equity of 11.81% and a net margin of 12.13%. The business had revenue of $94.10 million for the quarter, compared to analyst estimates of $91.78 million. During the same quarter last year, the company earned $1.24 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts forecast that Virtus Investment Partners will post $7.61 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in Virtus Investment Partners during the second quarter valued at about $124,561,000. Brown Advisory Inc. bought a new stake in Virtus Investment Partners during the second quarter valued at about $24,967,000. Citadel Advisors LLC bought a new stake in Virtus Investment Partners during the first quarter valued at about $18,618,000. Peregrine Capital Management LLC bought a new stake in Virtus Investment Partners during the third quarter valued at about $15,795,000. Finally, Vanguard Group Inc. raised its stake in Virtus Investment Partners by 26.5% in the first quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after buying an additional 135,509 shares in the last quarter. Institutional investors and hedge funds own 98.32% of the company’s stock.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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