Virtus Investment Partners (NASDAQ:VRTS) Stock Rating Lowered by BidaskClub

Virtus Investment Partners (NASDAQ:VRTS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research report on Saturday, July 13th. Morgan Stanley dropped their target price on shares of Virtus Investment Partners from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Bank of America dropped their target price on shares of Virtus Investment Partners from $123.00 to $110.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays restated a “hold” rating and set a $105.00 price target on shares of Virtus Investment Partners in a report on Wednesday. Finally, ValuEngine upgraded shares of Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $108.33.

Virtus Investment Partners stock opened at $90.90 on Thursday. The firm’s 50 day simple moving average is $108.39 and its 200-day simple moving average is $108.53. The company has a market cap of $631.30 million, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 27.91 and a quick ratio of 27.91. Virtus Investment Partners has a fifty-two week low of $70.00 and a fifty-two week high of $126.55.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 26th. The closed-end fund reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.22. The business had revenue of $140.49 million for the quarter, compared to the consensus estimate of $144.92 million. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $2.73 earnings per share. On average, analysts expect that Virtus Investment Partners will post 13.63 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in shares of Virtus Investment Partners by 111.1% during the third quarter. State of Alaska Department of Revenue now owns 5,018 shares of the closed-end fund’s stock worth $554,000 after purchasing an additional 2,641 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Virtus Investment Partners by 3.9% during the second quarter. Macquarie Group Ltd. now owns 15,619 shares of the closed-end fund’s stock worth $1,677,000 after purchasing an additional 587 shares during the period. Royal Bank of Canada boosted its holdings in shares of Virtus Investment Partners by 0.7% during the second quarter. Royal Bank of Canada now owns 135,578 shares of the closed-end fund’s stock worth $14,562,000 after purchasing an additional 916 shares during the period. HM Payson & Co. acquired a new stake in shares of Virtus Investment Partners during the second quarter worth approximately $193,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Virtus Investment Partners during the second quarter worth approximately $260,000. Institutional investors and hedge funds own 90.34% 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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