Virtus Investment Partners, Inc. (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

VRTS has been the subject of a number of other reports. Morgan Stanley set a $110.00 price target on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research report on Monday, July 17th. Credit Suisse Group increased their price target on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. BidaskClub lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Barclays PLC started coverage on shares of Virtus Investment Partners in a research report on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price target for the company. Finally, Bank of America Corporation raised shares of Virtus Investment Partners from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $112.00 to $130.00 in a research report on Monday. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $129.33.

Virtus Investment Partners (VRTS) traded down 1.03% during midday trading on Thursday, reaching $120.30. 2,858 shares of the company were exchanged. The stock has a market capitalization of $868.21 million, a price-to-earnings ratio of 23.41 and a beta of 1.76. Virtus Investment Partners has a 52-week low of $92.80 and a 52-week high of $128.10. The firm’s 50-day moving average price is $112.05 and its 200 day moving average price is $109.33.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.05). The company had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. Virtus Investment Partners’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Equities analysts predict that Virtus Investment Partners will post $7.68 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Virtus Investment Partners by 8.3% during the second 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 last quarter. Vanguard Group Inc. grew its holdings in Virtus Investment Partners by 8.6% during the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after purchasing an additional 55,871 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Virtus Investment Partners by 23.6% during the first 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 last quarter. Huber Capital Management LLC grew its holdings in Virtus Investment Partners by 10.3% during the second quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock valued at $48,594,000 after purchasing an additional 40,924 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Virtus Investment Partners by 9.5% during the second quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock valued at $27,195,000 after purchasing an additional 21,362 shares during the last quarter. 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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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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