Virtus Investment Partners, Inc. (VRTS) Stock Rating Reaffirmed by Jefferies Group LLC
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.
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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