California State Teachers Retirement System reduced its position in shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,121 shares of the closed-end fund’s stock after selling 644 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Virtus Investment Partners worth $934,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Virtus Investment Partners during the second quarter worth approximately $124,561,000. BNP Paribas Arbitrage SA raised its stake in shares of Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock valued at $146,000 after buying an additional 957 shares in the last quarter. Marcato Capital Management LP raised its stake in shares of Virtus Investment Partners by 28.6% in the first quarter. Marcato Capital Management LP now owns 59,305 shares of the closed-end fund’s stock valued at $4,632,000 after buying an additional 13,200 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Virtus Investment Partners during the first quarter valued at about $125,000. Finally, Geode Capital Management LLC raised its stake in shares of Virtus Investment Partners by 1.8% in the first quarter. Geode Capital Management LLC now owns 45,515 shares of the closed-end fund’s stock valued at $3,555,000 after buying an additional 810 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.
Shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) traded up 0.08% during midday trading on Wednesday, reaching $96.97. The company had a trading volume of 124,339 shares. The company’s 50-day moving average is $91.47 and its 200-day moving average is $81.07. The stock has a market capitalization of $748.41 million, a PE ratio of 31.59 and a beta of 1.80. Virtus Investment Partners Inc. has a 1-year low of $66.12 and a 1-year high of $141.97.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.08. Virtus Investment Partners had a net margin of 7.80% and a return on equity of 9.37%. The firm had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.86 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities research analysts forecast that Virtus Investment Partners Inc. will post $5.25 EPS for the current year.
Several equities research analysts have recently issued reports on VRTS shares. Credit Suisse Group AG raised Virtus Investment Partners from a “neutral” rating to an “outperform” rating and raised their target price for the company from $90.00 to $91.00 in a research report on Thursday, July 14th. Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a research report on Wednesday, August 31st. Finally, Jefferies Group raised their target price on Virtus Investment Partners from $74.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, August 8th.
About Virtus Investment Partners
Virtus Investment Partners, Inc 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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