Ontario Teachers Pension Plan Board purchased a new position in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,276 shares of the closed-end fund’s stock, valued at approximately $1,055,000. Ontario Teachers Pension Plan Board owned about 0.13% of Virtus Investment Partners at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in Virtus Investment Partners during the second quarter worth about $215,000. Aperio Group LLC acquired a new position in Virtus Investment Partners during the second quarter worth about $218,000. Crossmark Global Holdings Inc. acquired a new position in Virtus Investment Partners during the second quarter worth about $239,000. SG Americas Securities LLC acquired a new position in Virtus Investment Partners during the second quarter worth about $272,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in Virtus Investment Partners by 47.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 2,564 shares of the closed-end fund’s stock worth $328,000 after acquiring an additional 828 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.
NASDAQ:VRTS opened at $94.17 on Friday. The stock has a market capitalization of $665.13 million, a price-to-earnings ratio of 12.26, a PEG ratio of 0.31 and a beta of 1.40. Virtus Investment Partners Inc has a 1-year low of $91.18 and a 1-year high of $138.02.
Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.30. The company had revenue of $152.20 million for the quarter, compared to analyst estimates of $149.06 million. Virtus Investment Partners had a net margin of 14.55% and a return on equity of 19.05%. Virtus Investment Partners’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 EPS. Equities research analysts predict that Virtus Investment Partners Inc will post 12.56 earnings per share for the current fiscal year.
VRTS has been the topic of a number of recent research reports. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. ValuEngine lowered shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Morgan Stanley boosted their target price on shares of Virtus Investment Partners from $145.00 to $147.00 and gave the company a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Saturday, October 13th. Finally, Credit Suisse Group set a $150.00 target price on shares of Virtus Investment Partners and gave the company a “buy” rating in a report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Virtus Investment Partners presently has an average rating of “Hold” and an average target price of $128.67.
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About Virtus Investment Partners
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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