Virtus Investment Partners (NASDAQ:VRTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage presently has a $145.00 price objective on the closed-end fund’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.35% from the stock’s current price.

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. “

A number of other research firms also recently weighed in on VRTS. Sandler O’Neill set a $132.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Thursday. Goldman Sachs Group raised shares of Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 target price for the company in a research report on Tuesday. BidaskClub raised shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley set a $121.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Finally, Jefferies Group restated a “hold” rating and set a $127.00 price target (up from $117.00) on shares of Virtus Investment Partners in a research note on Tuesday, October 10th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $132.13.

Virtus Investment Partners (VRTS) traded up $1.60 during trading on Friday, hitting $131.40. 54,112 shares of the stock were exchanged, compared to its average volume of 62,181. Virtus Investment Partners has a 1 year low of $97.60 and a 1 year high of $132.85. The company has a market cap of $929.11, a P/E ratio of 24.51, a P/E/G ratio of 0.33 and a beta of 1.90.

Virtus Investment Partners (NASDAQ:VRTS) last released 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). Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $116.85 million. During the same period in the prior year, the company earned $1.64 earnings per share. The firm’s revenue was up 50.3% on a year-over-year basis. equities research analysts predict that Virtus Investment Partners will post 7.54 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in VRTS. Crossmark Global Holdings Inc. purchased a new stake in shares of Virtus Investment Partners during the 3rd quarter valued at approximately $204,000. Cubist Systematic Strategies LLC lifted its stake in shares of Virtus Investment Partners by 1,798.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after buying an additional 1,709 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Virtus Investment Partners by 52.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after buying an additional 848 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Virtus Investment Partners by 73.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after buying an additional 1,150 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Virtus Investment Partners by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after buying an additional 427 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

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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.

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