Macquarie Group Ltd. Invests $839,000 in Virtus Investment Partners Inc. (VRTS)
Macquarie Group Ltd. bought a new stake in Virtus Investment Partners Inc. (NASDAQ:VRTS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 11,790 shares of the closed-end fund’s stock, valued at approximately $839,000. Macquarie Group Ltd. owned 0.15% of Virtus Investment Partners at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of VRTS. Envestnet Asset Management Inc. purchased a new position in Virtus Investment Partners during the first quarter valued at about $125,000. BlackRock Inc. increased its position in Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in 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. Loews Corp purchased a new position in Virtus Investment Partners during the second quarter valued at about $205,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Virtus Investment Partners during the first quarter valued at about $375,000. 96.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) opened at 101.63 on Friday. Virtus Investment Partners Inc. has a 52-week low of $66.12 and a 52-week high of $141.97. The firm’s 50-day moving average is $90.95 and its 200-day moving average is $80.77. The firm has a market cap of $784.38 million, a P/E ratio of 33.10 and a beta of 1.80.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results 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 business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.86 million. Virtus Investment Partners had a net margin of 7.80% and a return on equity of 9.37%. The business’s revenue was down 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. Analysts anticipate that Virtus Investment Partners Inc. will post $5.25 earnings per share for the current year.
Several research analysts have recently issued reports on VRTS shares. Zacks Investment Research downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. Credit Suisse Group AG set a $104.00 price objective on Virtus Investment Partners and gave the company a “buy” rating in a research note on Monday. Finally, Jefferies Group increased their target price on shares of 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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