Virtus Investment Partners (VRTS) Lifted to Neutral at Goldman Sachs Group

Virtus Investment Partners (NASDAQ:VRTS) was upgraded by stock analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $130.00 target price on the closed-end fund’s stock. Goldman Sachs Group’s target price suggests a potential upside of 2.16% from the company’s current price.

Several other brokerages also recently commented on VRTS. BidaskClub raised Virtus Investment Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley set a $121.00 price objective on Virtus Investment Partners and gave the stock a “hold” rating in a research note on Monday, October 23rd. Jefferies Group reaffirmed a “hold” rating and set a $127.00 price objective (up previously from $117.00) on shares of Virtus Investment Partners in a research note on Tuesday, October 10th. Barclays raised their price objective on Virtus Investment Partners from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. Finally, Zacks Investment Research downgraded Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $130.43.

Virtus Investment Partners (VRTS) traded up $0.25 during trading hours on Tuesday, hitting $127.25. The stock had a trading volume of 62,700 shares, compared to its average volume of 90,014. Virtus Investment Partners has a 1-year low of $97.60 and a 1-year high of $128.45. The company has a market cap of $909.07, a price-to-earnings ratio of 24.85, a P/E/G ratio of 0.47 and a beta of 1.89.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $116.85 million. During the same quarter in the prior year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. equities analysts predict that Virtus Investment Partners will post 7.53 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Virtus Investment Partners by 9.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 32,624 shares of the closed-end fund’s stock valued at $3,620,000 after acquiring an additional 2,699 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Virtus Investment Partners by 9.4% during the second quarter. Rhumbline Advisers now owns 15,863 shares of the closed-end fund’s stock worth $1,760,000 after buying an additional 1,358 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Virtus Investment Partners by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 88,833 shares of the closed-end fund’s stock worth $9,855,000 after buying an additional 2,760 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Virtus Investment Partners by 17.4% during the second quarter. Legal & General Group Plc now owns 12,090 shares of the closed-end fund’s stock worth $1,341,000 after buying an additional 1,796 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Virtus Investment Partners by 52.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock worth $275,000 after buying an additional 848 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

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About Virtus Investment Partners

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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