Virtus Investment Partners (NASDAQ:VRTS – Get Rating) had its price objective decreased by investment analysts at Piper Sandler from $300.00 to $289.00 in a research report issued on Thursday, The Fly reports. Piper Sandler’s target price would indicate a potential upside of 61.81% from the company’s current price.
VRTS has been the topic of several other reports. Morgan Stanley lowered their target price on Virtus Investment Partners from $240.00 to $221.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 26th. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Sunday, May 8th.
NASDAQ:VRTS opened at $178.60 on Thursday. The stock’s 50 day moving average price is $187.69 and its 200 day moving average price is $236.67. Virtus Investment Partners has a 52-week low of $161.30 and a 52-week high of $338.80. The company has a market capitalization of $1.33 billion, a PE ratio of 6.94 and a beta of 1.64.
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Virtus Investment Partners (NASDAQ:VRTS – Get Rating) last announced its earnings results on Friday, April 29th. The closed-end fund reported $7.87 earnings per share for the quarter, missing the consensus estimate of $7.91 by ($0.04). Virtus Investment Partners had a net margin of 20.16% and a return on equity of 35.94%. The company had revenue of $221.95 million during the quarter, compared to analysts’ expectations of $225.10 million. During the same quarter last year, the business posted $6.78 earnings per share. Equities research analysts predict that Virtus Investment Partners will post 31.71 EPS for the current fiscal year.
In related news, Director W Howard Morris sold 151 shares of Virtus Investment Partners stock in a transaction on Friday, May 27th. The stock was sold at an average price of $192.09, for a total transaction of $29,005.59. Following the completion of the transaction, the director now directly owns 738 shares of the company’s stock, valued at $141,762.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in VRTS. Lazard Asset Management LLC raised its stake in Virtus Investment Partners by 82.1% in the 1st quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 69 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Virtus Investment Partners by 231.9% in the 1st quarter. Quadrant Capital Group LLC now owns 156 shares of the closed-end fund’s stock valued at $38,000 after purchasing an additional 109 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in Virtus Investment Partners by 1,937.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 155 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Virtus Investment Partners in the 4th quarter valued at about $92,000. Finally, PNC Financial Services Group Inc. raised its stake in Virtus Investment Partners by 37.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 572 shares of the closed-end fund’s stock valued at $138,000 after purchasing an additional 155 shares during the last quarter. 85.06% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Company Profile (Get Rating)
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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