Morgan Stanley Increases Virtus Investment Partners (VRTS) Price Target to $136.00

Virtus Investment Partners (NASDAQ:VRTS) had its target price increased by stock analysts at Morgan Stanley from $127.00 to $136.00 in a research note issued on Wednesday. The firm currently has an “equal weight” rating on the closed-end fund’s stock. Morgan Stanley’s price target indicates a potential upside of 5.61% from the company’s current price.

Other research analysts have also issued research reports about the company. TheStreet raised Virtus Investment Partners from a “c+” rating to a “b” rating in a report on Thursday, November 30th. Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Saturday, January 13th. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Barclays boosted their price objective on Virtus Investment Partners from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 10th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $127.00 target price (up previously from $117.00) on shares of Virtus Investment Partners in a research note on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Virtus Investment Partners currently has an average rating of “Hold” and a consensus price target of $139.63.

Shares of Virtus Investment Partners (NASDAQ VRTS) traded up $2.52 during midday trading on Wednesday, hitting $128.77. The stock had a trading volume of 3,217 shares, compared to its average volume of 62,214. Virtus Investment Partners has a 52 week low of $97.60 and a 52 week high of $134.65. The stock has a market capitalization of $895.11, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.79.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a return on equity of 13.93% and a net margin of 8.70%. The company had revenue of $128.00 million during the quarter, compared to analyst estimates of $127.09 million. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Virtus Investment Partners’s revenue was up 60.2% on a year-over-year basis. sell-side analysts predict that Virtus Investment Partners will post 11.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of VRTS. Point72 Asset Management L.P. boosted its stake in Virtus Investment Partners by 2,031.4% in the third quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock worth $8,657,000 after buying an additional 71,100 shares in the last quarter. BlackRock Inc. boosted its stake in Virtus Investment Partners by 8.3% in the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after buying an additional 63,155 shares in the last quarter. Vanguard Group Inc. boosted its stake in Virtus Investment Partners by 8.6% in the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock worth $78,051,000 after buying an additional 55,871 shares in the last quarter. WCM Investment Management CA boosted its stake in Virtus Investment Partners by 494.8% in the fourth quarter. WCM Investment Management CA now owns 55,076 shares of the closed-end fund’s stock worth $6,336,000 after buying an additional 45,817 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Virtus Investment Partners by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock worth $20,302,000 after buying an additional 42,139 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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