Virtus Investment Partners, Inc. (NASDAQ:VRTS) has been given a $121.00 price objective by equities researchers at Morgan Stanley in a report issued on Monday. The brokerage presently has a “hold” rating on the closed-end fund’s stock. Morgan Stanley’s price target suggests a potential upside of 0.41% from the company’s previous close.

VRTS has been the subject of a number of other reports. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 target price for the company in a report on Thursday, September 28th. Bank of America Corporation raised shares of Virtus Investment Partners from an “underperform” rating to a “neutral” rating and upped their target price for the company from $112.00 to $130.00 in a report on Monday, October 9th. Credit Suisse Group upped their target price on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Barclays PLC initiated coverage on shares of Virtus Investment Partners in a report on Friday, September 8th. They issued an “equal weight” rating and a $113.00 target price for the company. Finally, BidaskClub cut shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $129.00.

Virtus Investment Partners (NASDAQ:VRTS) traded down 3.02% during trading on Monday, hitting $120.50. The company had a trading volume of 46,726 shares. The stock has a market capitalization of $869.65 million, a price-to-earnings ratio of 23.45 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 is $115.80 and its 200-day moving average is $110.41.

Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. During the same period in the previous year, the company posted $1.24 earnings per share. Virtus Investment Partners’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts forecast that Virtus Investment Partners will post $7.63 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of VRTS. Vanguard Group Inc. increased its stake in shares of Virtus Investment Partners by 26.5% during the first quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock worth $68,583,000 after acquiring an additional 135,509 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $50,082,000 after acquiring an additional 90,422 shares during the period. California Public Employees Retirement System increased its stake in shares of Virtus Investment Partners by 356.1% during the first quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock worth $9,225,000 after acquiring an additional 68,012 shares during the period. BlackRock Inc. increased its stake in shares of Virtus Investment Partners by 8.3% during the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after acquiring an additional 63,155 shares during the period. Finally, Mangrove Partners acquired a new position in shares of Virtus Investment Partners during the second quarter worth about $4,985,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

About Virtus Investment Partners

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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