Virtus Investment Partners Inc. (VRTS) Trading Down 3.2%
Virtus Investment Partners Inc. (NASDAQ:VRTS)’s share price fell 3.2% on Thursday . The company traded as low as $87.94 and last traded at $88.31, with a volume of 66,878 shares changing hands. The stock had previously closed at $91.20.
A number of brokerages recently weighed in on VRTS. Jefferies Group raised their price objective on Virtus Investment Partners from $74.00 to $87.00 and gave the company a “hold” rating in a report on Monday, August 8th. Zacks Investment Research raised Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Credit Suisse Group AG raised Virtus Investment Partners from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $90.00 to $91.00 in a report on Thursday, July 14th.
The company has a 50-day moving average price of $86.87 and a 200 day moving average price of $80.82. The company has a market cap of $683.89 million and a price-to-earnings ratio of 28.86.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The business earned $80.10 million during the quarter, compared to analyst estimates of $78.86 million. During the same period in the previous year, the company earned $2.21 earnings per share. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. Equities analysts predict that Virtus Investment Partners Inc. will post $5.22 earnings per share for the current fiscal year.
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.