Virtus Investment Partners Inc. (VRTS) Shares Gap Up to $74.87
Virtus Investment Partners Inc. (NASDAQ:VRTS) gapped up prior to trading on Friday . The stock had previously closed at $74.44, but opened at $74.87. Virtus Investment Partners shares last traded at $77.35, with a volume of 24,285 shares.
Several equities research analysts have recently issued reports on VRTS shares. Sandler O’Neill lowered their target price on shares of Virtus Investment Partners from $91.00 to $71.00 in a report on Tuesday, April 12th. Zacks Investment Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Jefferies Group downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating and reduced their price target for the stock from $99.00 to $74.00 in a research note on Thursday, March 10th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Virtus Investment Partners currently has a consensus rating of “Hold” and an average price target of $100.75.
The company’s 50-day moving average is $77.41 and its 200 day moving average is $84.21. The company has a market cap of $637.49 million and a P/E ratio of 24.12.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, April 29th. The closed-end fund reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The business earned $80.30 million during the quarter, compared to analysts’ expectations of $81.08 million. The firm’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 EPS. Equities research analysts anticipate that Virtus Investment Partners Inc. will post $5.15 EPS for the current fiscal year.
Other hedge funds have bought and sold shares of the company. California State Teachers Retirement System boosted its stake in Virtus Investment Partners by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 12,648 shares of the closed-end fund’s stock valued at $1,486,000 after buying an additional 145 shares during the period. Rhumbline Advisers boosted its stake in Virtus Investment Partners by 3.4% in the fourth quarter. Rhumbline Advisers now owns 13,142 shares of the closed-end fund’s stock valued at $1,544,000 after buying an additional 433 shares during the period. Matarin Capital Management LLC acquired a new stake in Virtus Investment Partners during the fourth quarter valued at approximately $1,934,000. First Trust Advisors LP boosted its stake in Virtus Investment Partners by 3.9% in the fourth quarter. First Trust Advisors LP now owns 24,959 shares of the closed-end fund’s stock valued at $2,932,000 after buying an additional 941 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Virtus Investment Partners by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 26,495 shares of the closed-end fund’s stock valued at $3,112,000 after buying an additional 2,199 shares during the period.
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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