Virtus Investment Partners (VRTS) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a strong sell rating in a research note published on Saturday.

Several other analysts have also recently commented on the company. Morgan Stanley lowered their price target on Virtus Investment Partners from $147.00 to $111.00 and set a hold rating for the company in a report on Wednesday, November 14th. Zacks Investment Research cut Virtus Investment Partners from a buy rating to a hold rating in a report on Wednesday, October 31st. Barclays lowered their price target on Virtus Investment Partners from $140.00 to $115.00 and set an equal weight rating for the company in a report on Monday, October 29th. Credit Suisse Group set a $150.00 price target on Virtus Investment Partners and gave the company a buy rating in a report on Monday, October 29th. Finally, ValuEngine cut Virtus Investment Partners from a sell rating to a strong sell rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Virtus Investment Partners has an average rating of Hold and an average price target of $128.67.

Virtus Investment Partners stock opened at $91.37 on Friday. The stock has a market cap of $678.93 million, a P/E ratio of 11.90, a P/E/G ratio of 0.31 and a beta of 1.39. Virtus Investment Partners has a 52 week low of $90.10 and a 52 week high of $138.02.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 26th. The closed-end fund reported $3.64 EPS for the quarter, beating the consensus estimate of $3.34 by $0.30. The company had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $149.06 million. Virtus Investment Partners had a return on equity of 19.05% and a net margin of 14.55%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. As a group, analysts expect that Virtus Investment Partners will post 12.56 earnings per share for the current year.

Several large investors have recently modified their holdings of VRTS. Vulcan Value Partners LLC grew its holdings in shares of Virtus Investment Partners by 106.9% during the 2nd quarter. Vulcan Value Partners LLC now owns 533,272 shares of the closed-end fund’s stock worth $69,475,000 after purchasing an additional 275,535 shares during the period. Citadel Advisors LLC grew its holdings in shares of Virtus Investment Partners by 545.7% during the 3rd quarter. Citadel Advisors LLC now owns 134,132 shares of the closed-end fund’s stock worth $15,257,000 after purchasing an additional 113,359 shares during the period. BlackRock Inc. grew its holdings in shares of Virtus Investment Partners by 9.3% during the 2nd quarter. BlackRock Inc. now owns 1,016,158 shares of the closed-end fund’s stock worth $130,017,000 after purchasing an additional 86,152 shares during the period. Millennium Management LLC grew its holdings in shares of Virtus Investment Partners by 183.9% during the 2nd quarter. Millennium Management LLC now owns 93,920 shares of the closed-end fund’s stock worth $12,017,000 after purchasing an additional 60,838 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in shares of Virtus Investment Partners during the 3rd quarter worth about $2,258,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

About Virtus Investment Partners

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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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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