Virtus Investment Partners, Inc. (NASDAQ:VRTS)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a research note issued on Friday. They presently have a $117.00 target price on the closed-end fund’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 10.48% from the stock’s current price.

Several other research firms have also weighed in on VRTS. Zacks Investment Research lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Credit Suisse Group upped their target price on Virtus Investment Partners from $141.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. Morgan Stanley set a $110.00 target price on Virtus Investment Partners and gave the stock a “hold” rating in a research report on Monday, July 17th. Finally, BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.20.

Virtus Investment Partners (NASDAQ VRTS) traded down 0.94% during trading on Friday, hitting $105.90. The stock had a trading volume of 34,744 shares. The company has a 50 day moving average of $113.56 and a 200-day moving average of $108.48. Virtus Investment Partners has a 12-month low of $87.03 and a 12-month high of $128.10. The company has a market cap of $764.28 million, a P/E ratio of 20.61 and a beta of 1.72.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.05. The business had revenue of $94.10 million for 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%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, equities analysts predict that Virtus Investment Partners will post $7.62 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/19/virtus-investment-partners-inc-vrts-rating-reiterated-by-jefferies-group-llc.html.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its position in shares of Virtus Investment Partners by 0.8% in the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock worth $856,000 after buying an additional 58 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Virtus Investment Partners by 17.8% in the second quarter. California State Teachers Retirement System now owns 11,921 shares of the closed-end fund’s stock worth $1,323,000 after buying an additional 1,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Virtus Investment Partners by 40.6% in the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the closed-end fund’s stock worth $594,000 after buying an additional 1,544 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Virtus Investment Partners during the second quarter worth approximately $330,000. Finally, State Street Corp raised its position in shares of Virtus Investment Partners by 6.8% in the second quarter. State Street Corp now owns 154,490 shares of the closed-end fund’s stock worth $17,136,000 after buying an additional 9,784 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

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.

Receive News & Ratings for Virtus Investment Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.