Virtus Investment Partners Inc. (VRTS) Shares Up 3.1%
Virtus Investment Partners Inc. (NASDAQ:VRTS) shares shot up 3.1% during mid-day trading on Thursday . The company traded as high as $75.29 and last traded at $73.97, with a volume of 141,901 shares changing hands. The stock had previously closed at $71.74.
A number of research firms have issued reports on VRTS. Zacks Investment Research cut Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Sandler O’Neill cut their price target on Virtus Investment Partners from $91.00 to $71.00 in a report on Tuesday, April 12th. Finally, Jefferies Group lowered Virtus Investment Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $99.00 to $74.00 in a report on Thursday, March 10th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $100.75.
The company has a market cap of $618.65 million and a price-to-earnings ratio of 23.40. The stock has a 50 day moving average of $77.58 and a 200-day moving average of $84.59.
Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, April 29th. The closed-end fund reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. During the same period in the prior year, the business earned $2.11 earnings per share. The company had revenue of $80.30 million for the quarter, compared to the consensus estimate of $81.08 million. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. Equities research analysts expect that Virtus Investment Partners Inc. will post $5.19 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently made changes to their positions in VRTS. Dimensional Fund Advisors LP raised its position in shares of Virtus Investment Partners by 26.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 255,539 shares of the closed-end fund’s stock valued at $30,016,000 after buying an additional 52,918 shares in the last quarter. Matarin Capital Management LLC bought a new position in shares of Virtus Investment Partners during the fourth quarter valued at about $1,934,000. Victory Capital Management Inc. raised its position in shares of Virtus Investment Partners by 12.5% in the fourth quarter. Victory Capital Management Inc. now owns 248,296 shares of the closed-end fund’s stock valued at $29,165,000 after buying an additional 27,680 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Virtus Investment Partners by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,243 shares of the closed-end fund’s stock valued at $43,254,000 after buying an additional 8,379 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Virtus Investment Partners by 1,599.3% in the fourth quarter. Morgan Stanley now owns 94,889 shares of the closed-end fund’s stock valued at $11,145,000 after buying an additional 89,305 shares in the last quarter.
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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