Virtus Investment Partners, Inc. (NASDAQ:VRTS)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a report issued on Friday. They presently have a $117.00 price target on the closed-end fund’s stock. Jefferies Group LLC’s price target suggests a potential upside of 9.45% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and set a $114.00 price objective (up previously from $105.00) on shares of Virtus Investment Partners in a research note on Monday, July 10th. Finally, Credit Suisse Group raised shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $141.00 to $147.00 in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Virtus Investment Partners currently has a consensus rating of “Hold” and an average target price of $121.20.

Virtus Investment Partners (NASDAQ VRTS) traded down 0.51% during mid-day trading on Friday, reaching $106.35. 11,483 shares of the company’s stock were exchanged. The stock has a market capitalization of $767.53 million, a PE ratio of 20.69 and a beta of 1.72. The firm’s 50-day moving average is $113.69 and its 200 day moving average is $108.51. Virtus Investment Partners has a 1-year low of $87.03 and a 1-year high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by $0.05. Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The business had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. During the same period last year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts forecast that Virtus Investment Partners will post $7.62 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in Virtus Investment Partners by 83.8% in the second quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock valued at $144,000 after buying an additional 595 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Virtus Investment Partners by 14.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after buying an additional 190 shares during the last quarter. Mason Street Advisors LLC raised its stake in Virtus Investment Partners by 23.9% in the first quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock valued at $160,000 after buying an additional 292 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Virtus Investment Partners by 17.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock valued at $172,000 after buying an additional 244 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in Virtus Investment Partners during the first quarter valued at about $203,000. 94.51% of the stock is owned by institutional investors.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc (Virtus) 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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