Virtus Investment Partners Inc. (VRTS) PT Set at $104.00 by Credit Suisse Group AG
Credit Suisse Group AG set a $104.00 price target on Virtus Investment Partners Inc. (NASDAQ:VRTS) in a research report released on Monday. The brokerage currently has a a buy rating on the closed-end fund’s stock.
A number of other brokerages have also recently issued reports on VRTS. Jefferies Group boosted their target price on Virtus Investment Partners from $74.00 to $87.00 and gave the stock a hold rating in a report on Monday, August 8th. Zacks Investment Research upgraded Virtus Investment Partners from a sell rating to a hold rating in a report on Wednesday, August 10th.
Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at 101.63 on Monday. Virtus Investment Partners has a 12-month low of $66.12 and a 12-month 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 PE ratio of 33.10 and a beta of 1.80.
Virtus Investment Partners (NASDAQ:VRTS) last issued its 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. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The firm had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.86 million. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. Equities analysts expect that Virtus Investment Partners will post $5.25 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in Virtus Investment Partners during the first quarter worth $125,000. BlackRock Inc. raised 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 raised 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 acquired a new position in shares of Virtus Investment Partners during the second quarter worth about $205,000. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of Virtus Investment Partners during the second quarter worth about $345,000. Hedge funds and other 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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