Virtus Investment Partners, Inc. (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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 topic of several other reports. Bank of America Corporation upgraded shares of 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. Credit Suisse Group lifted their target price on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Barclays PLC lifted their target price on shares of Virtus Investment Partners from $116.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. BidaskClub lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Morgan Stanley set a $123.00 price target on shares of Virtus Investment Partners and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $130.50.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at $115.15 on Friday. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $128.10. The firm has a market cap of $824.25, a PE ratio of 16.50, a PEG ratio of 0.59 and a beta of 1.86.

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 consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a net margin of 16.59% and a return on equity of 14.32%. The business had revenue of $123.70 million for the quarter, compared to analyst estimates of $116.85 million. During the same quarter last year, the firm posted $1.64 earnings per share. Virtus Investment Partners’s revenue was up 50.3% on a year-over-year basis. equities research analysts expect that Virtus Investment Partners will post 7.6 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in VRTS. Bank of Montreal Can bought a new position in shares of Virtus Investment Partners in the second quarter worth about $124,561,000. Brown Advisory Inc. bought a new position in shares of Virtus Investment Partners in the second quarter worth about $24,967,000. Citadel Advisors LLC bought a new position in shares of Virtus Investment Partners in the first quarter worth about $18,618,000. Peregrine Capital Management LLC bought a new position in shares of Virtus Investment Partners in the third quarter worth about $15,795,000. Finally, Vanguard Group Inc. raised its stake in shares of Virtus Investment Partners by 26.5% in 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 last quarter. 96.32% of the stock is owned by institutional investors.

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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