Virtus Investment Partners, Inc. (VRTS) Price Target Raised to $116.00 at Barclays PLC
Virtus Investment Partners, Inc. (NASDAQ:VRTS) had its target price lifted by Barclays PLC from $113.00 to $116.00 in a research report issued on Tuesday. The brokerage currently has an “equal weight” rating on the closed-end fund’s stock. Barclays PLC’s price objective indicates a potential downside of 5.50% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Bank of America Corporation upgraded Virtus Investment Partners from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $112.00 to $130.00 in a research note on Monday. Morgan Stanley set a $123.00 price target on Virtus Investment Partners and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research note on Thursday, September 28th. ValuEngine lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $117.00 price objective on shares of Virtus Investment Partners in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $129.33.
Shares of Virtus Investment Partners (NASDAQ VRTS) traded up 0.49% on Tuesday, hitting $122.75. The stock had a trading volume of 99,486 shares. The firm’s 50-day moving average is $111.61 and its 200 day moving average is $109.24. The stock has a market cap of $885.89 million, a P/E ratio of 23.89 and a beta of 1.76. Virtus Investment Partners has a 1-year low of $92.80 and a 1-year high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The firm had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. Equities analysts forecast that Virtus Investment Partners will post $7.63 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in VRTS. Citadel Advisors LLC bought a new stake in shares of Virtus Investment Partners in the 1st quarter valued at approximately $18,618,000. Vanguard Group Inc. grew its stake in shares of Virtus Investment Partners by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after purchasing an additional 135,509 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Virtus Investment Partners by 23.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after purchasing an additional 90,422 shares during the period. California Public Employees Retirement System grew its stake in shares of Virtus Investment Partners by 356.1% in the 1st quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock valued at $9,225,000 after purchasing an additional 68,012 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Virtus Investment Partners by 8.3% in the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after purchasing an additional 63,155 shares during the period. 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.
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