Virtus Investment Partners Inc. (NASDAQ:VRTS) had its target price increased by research analysts at Jefferies Group from $87.00 to $97.00 in a research report issued on Tuesday. The firm presently has a “hold” rating on the closed-end fund’s stock. Jefferies Group’s target price points to a potential downside of 2.57% from the company’s previous close.
A number of other analysts also recently weighed in on the stock. Credit Suisse Group AG raised shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $90.00 to $91.00 in a research report on Thursday, July 14th. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, August 31st.
Virtus Investment Partners (NASDAQ:VRTS) traded down 1.48% during mid-day trading on Tuesday, reaching $98.09. 34,838 shares of the company were exchanged. The company has a market capitalization of $757.06 million, a PE ratio of 31.95 and a beta of 1.79. The stock has a 50-day moving average price of $93.76 and a 200 day moving average price of $82.38. Virtus Investment Partners has a one year low of $66.12 and a one year high of $141.97.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 29th. The closed-end fund reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by $0.08. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.86 million. Virtus Investment Partners had a net margin of 7.80% and a return on equity of 9.37%. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. Analysts predict that Virtus Investment Partners will post $5.25 EPS for the current year.
A number of institutional investors have recently made changes to their positions in VRTS. BlackRock Inc. boosted its position in shares of Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock worth $127,000 after buying an additional 1,291 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position 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 worth $146,000 after buying an additional 957 shares during the last quarter. Loews Corp purchased a new position in shares of Virtus Investment Partners during the second quarter worth about $205,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Virtus Investment Partners during the first quarter worth about $375,000. Finally, BW Gestao de Investimentos Ltda. purchased a new position in shares of Virtus Investment Partners during the second quarter worth about $345,000. Institutional investors own 96.23% of the company’s stock.
Virtus Investment Partners Company Profile
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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