Virtus Investment Partners (NASDAQ:VRTS – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.
Other equities research analysts also recently issued research reports about the company. Morgan Stanley lowered their price target on Virtus Investment Partners from $240.00 to $221.00 and set an “underweight” rating for the company in a research report on Tuesday, April 26th. Piper Sandler reduced their price objective on Virtus Investment Partners from $375.00 to $325.00 in a research note on Monday, May 2nd. Finally, Zacks Investment Research cut Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 10th.
VRTS stock opened at $174.78 on Friday. The stock has a 50-day moving average price of $214.69 and a two-hundred day moving average price of $262.32. Virtus Investment Partners has a 12-month low of $170.00 and a 12-month high of $338.80. The company has a market cap of $1.31 billion, a PE ratio of 6.79 and a beta of 1.65.
Virtus Investment Partners (NASDAQ:VRTS – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The closed-end fund reported $7.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.91 by ($0.04). Virtus Investment Partners had a net margin of 20.16% and a return on equity of 36.03%. During the same period in the previous year, the company posted $6.78 EPS. Equities analysts predict that Virtus Investment Partners will post 32.8 earnings per share for the current fiscal year.
In other Virtus Investment Partners news, Director W Howard Morris purchased 435 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The shares were acquired at an average price of $231.00 per share, for a total transaction of $100,485.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its stake in shares of Virtus Investment Partners by 231.9% in the first quarter. Quadrant Capital Group LLC now owns 156 shares of the closed-end fund’s stock worth $38,000 after acquiring an additional 109 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Virtus Investment Partners in the fourth quarter worth about $92,000. O Shaughnessy Asset Management LLC raised its stake in Virtus Investment Partners by 453.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 404 shares of the closed-end fund’s stock valued at $126,000 after buying an additional 331 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Virtus Investment Partners by 100.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 828 shares of the closed-end fund’s stock valued at $199,000 after buying an additional 415 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Virtus Investment Partners during the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 85.06% of the company’s stock.
About Virtus Investment Partners (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.