Barclays PLC Raises Virtus Investment Partners, Inc. (VRTS) Price Target to $125.00
Virtus Investment Partners, Inc. (NASDAQ:VRTS) had its target price raised by research analysts at Barclays PLC from $116.00 to $125.00 in a research note issued to investors on Monday. The firm presently has an “equal weight” rating on the closed-end fund’s stock. Barclays PLC’s target price would suggest a potential upside of 6.29% from the stock’s current price.
A number of other equities research analysts have also weighed in on the company. Morgan Stanley set a $121.00 target price on Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $127.00 target price (up from $117.00) on shares of Virtus Investment Partners in a research report on Tuesday, October 10th. Bank of America Corporation raised Virtus Investment Partners from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $112.00 to $130.00 in a research report on Monday, October 9th. Finally, ValuEngine lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $130.50.
Shares of Virtus Investment Partners (VRTS) traded down 0.73% during trading on Monday, hitting $116.30. The company had a trading volume of 20,860 shares. The stock’s 50-day moving average price is $117.09 and its 200 day moving average price is $110.71. The company has a market capitalization of $839.34 million, a P/E ratio of 22.63 and a beta of 1.76. Virtus Investment Partners has a 52 week low of $97.60 and a 52 week high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). The firm had revenue of $123.70 million for the quarter, compared to the consensus estimate of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 13.33%. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. On average, equities research analysts forecast that Virtus Investment Partners will post $7.63 earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in Virtus Investment Partners by 14.8% during the 1st quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock worth $1,188,000 after buying an additional 1,448 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Virtus Investment Partners during the 2nd quarter worth $579,000. Mangrove Partners purchased a new position in Virtus Investment Partners during the 2nd quarter worth $4,985,000. UBS Group AG grew its stake in Virtus Investment Partners by 62.8% during the 1st quarter. UBS Group AG now owns 15,717 shares of the closed-end fund’s stock worth $1,664,000 after buying an additional 6,065 shares during the last quarter. Finally, Citadel Advisors LLC grew its stake in Virtus Investment Partners by 8.7% during the 2nd quarter. Citadel Advisors LLC now owns 191,116 shares of the closed-end fund’s stock worth $21,204,000 after buying an additional 15,310 shares during the last quarter. Hedge funds and other institutional investors own 95.55% 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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