Virtus Investment Partners, Inc. (NASDAQ:VRTS) has been given a $123.00 target price by Morgan Stanley in a report released on Thursday. The firm presently has an “equal weight” rating on the closed-end fund’s stock. Morgan Stanley’s target price would indicate a potential upside of 2.46% from the stock’s previous close.

VRTS has been the subject of a number of other reports. BidaskClub downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Barclays PLC began coverage on Virtus Investment Partners in a research note on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price target for the company. Credit Suisse Group AG upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and raised their price target for the company from $141.00 to $147.00 in a research note on Monday, July 31st. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price target for the company in a research note on Thursday, September 28th. Finally, ValuEngine downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. Virtus Investment Partners currently has a consensus rating of “Hold” and a consensus target price of $123.83.

Shares of Virtus Investment Partners (NASDAQ:VRTS) traded up 0.21% during midday trading on Thursday, hitting $120.30. The stock had a trading volume of 13,618 shares. Virtus Investment Partners has a one year low of $92.80 and a one year high of $128.10. The company has a market capitalization of $868.21 million, a PE ratio of 23.41 and a beta of 1.76. The firm’s 50-day moving average is $110.29 and its 200 day moving average is $108.74.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.05). The firm had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. Equities analysts expect that Virtus Investment Partners will post $7.61 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of VRTS. State of Alaska Department of Revenue grew its stake in 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 valued at $144,000 after purchasing an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Virtus Investment Partners by 14.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after buying an additional 190 shares during the last quarter. Mason Street Advisors LLC lifted its position 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 valued at $160,000 after buying an additional 292 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position 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 valued at $172,000 after buying an additional 244 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Virtus Investment Partners in the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 95.86% 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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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