Virtus Investment Partners Inc. (VRTS) Sees Unusually-High Trading Volume
Shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) saw unusually-high trading volume on Monday . Approximately 106,403 shares changed hands during trading, an increase of 9% from the previous session’s volume of 97,340 shares.The stock last traded at $88.73 and had previously closed at $88.67.
VRTS has been the subject of several recent research reports. Zacks Investment Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 11th. Jefferies Group upped their price target on Virtus Investment Partners from $74.00 to $87.00 and gave the stock a “hold” rating in a report on Monday, August 8th. Finally, Credit Suisse Group AG upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $90.00 to $91.00 in a report on Thursday, July 14th.
The company has a market capitalization of $688.60 million and a price-to-earnings ratio of 29.06. The stock has a 50 day moving average of $85.80 and a 200 day moving average of $80.67.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by $0.08. The company earned $80.10 million during the quarter, compared to the consensus estimate of $78.86 million. Virtus Investment Partners’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Analysts forecast that Virtus Investment Partners Inc. will post $5.29 EPS 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.
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