Virtus Investment Partners, Inc. (NASDAQ:VRTS) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday.

Other equities analysts have also issued research reports about the company. Morgan Stanley started coverage on Virtus Investment Partners in a research note on Thursday, June 1st. They issued an “equal weight” rating and a $105.00 price target on the stock. Zacks Investment Research lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Jefferies Group LLC set a $110.00 price target on Virtus Investment Partners and gave the company a “hold” rating in a research note on Sunday, April 30th. Finally, Credit Suisse Group lifted their price target on Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Virtus Investment Partners currently has an average rating of “Hold” and an average price target of $119.80.

Shares of Virtus Investment Partners (NASDAQ VRTS) traded up 1.08% during mid-day trading on Monday, reaching $112.25. The company’s stock had a trading volume of 23,799 shares. Virtus Investment Partners has a 52-week low of $87.03 and a 52-week high of $128.10. The firm has a 50 day moving average price of $113.79 and a 200 day moving average price of $108.49. The firm has a market cap of $810.11 million, a price-to-earnings ratio of 21.84 and a beta of 1.72.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.05. The company had revenue of $94.10 million during the quarter, compared to analyst estimates of $91.78 million. Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. Virtus Investment Partners’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, equities analysts predict that Virtus Investment Partners will post $7.62 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Virtus Investment Partners by 83.8% in the second quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock worth $144,000 after buying an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Virtus Investment Partners by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,320 shares of the closed-end fund’s stock worth $129,000 after buying an additional 20 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Virtus Investment Partners by 23.9% in the first quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock worth $160,000 after buying an additional 292 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Virtus Investment Partners during the first quarter worth $125,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Virtus Investment Partners by 17.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock worth $172,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 94.51% 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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