Virtus Investment Partners, Inc. (VRTS) Rating Reiterated by Jefferies Group LLC
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.
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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.
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