Virtus Investment Partners, Inc. (VRTS) Stock Rating Lowered by Zacks Investment Research

Virtus Investment Partners, Inc. (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

Other analysts have also issued reports about the stock. BidaskClub lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Barclays PLC lifted their target price on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $117.00 target price on shares of Virtus Investment Partners in a research report on Friday, August 18th. Morgan Stanley set a $123.00 target price on shares of Virtus Investment Partners and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $129.33.

Virtus Investment Partners (NASDAQ:VRTS) opened at 121.55 on Thursday. The company has a market cap of $877.23 million, a PE ratio of 23.65 and a beta of 1.76. The firm has a 50-day moving average of $112.05 and a 200-day moving average of $109.33. Virtus Investment Partners has a one year low of $92.80 and a one year high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share 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 for the quarter, compared to analyst estimates of $91.78 million. During the same quarter last year, the firm posted $1.24 earnings per share. Virtus Investment Partners’s revenue was up 17.5% on a year-over-year basis. On average, analysts predict that Virtus Investment Partners will post $7.68 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in VRTS. Vanguard Group Inc. boosted its position in Virtus Investment Partners by 26.5% in the first quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after buying an additional 135,509 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Virtus Investment Partners by 23.6% in the first quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after buying an additional 90,422 shares in the last quarter. California Public Employees Retirement System boosted its position in Virtus Investment Partners by 356.1% in the first quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock valued at $9,225,000 after buying an additional 68,012 shares in the last quarter. BlackRock Inc. boosted its position in Virtus Investment Partners by 8.3% in the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after buying an additional 63,155 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Virtus Investment Partners by 50.4% in the first quarter. JPMorgan Chase & Co. now owns 185,925 shares of the closed-end fund’s stock valued at $19,690,000 after buying an additional 62,331 shares in the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.

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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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