Piper Sandler Boosts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $267.00

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) had its price objective upped by equities research analysts at Piper Sandler from $265.00 to $267.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s price target would indicate a potential upside of 17.39% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen boosted their price objective on shares of Virtus Investment Partners from $245.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, April 29th. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th.

View Our Latest Analysis on VRTS

Virtus Investment Partners Stock Performance

NASDAQ:VRTS traded down $1.10 during trading hours on Wednesday, reaching $227.44. The company’s stock had a trading volume of 2,847 shares, compared to its average volume of 49,437. The firm has a 50-day simple moving average of $233.16 and a 200-day simple moving average of $228.90. Virtus Investment Partners has a 1 year low of $168.78 and a 1 year high of $263.39. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 13.70 and a beta of 1.50.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last released its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.41. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.61%. The firm had revenue of $200.24 million for the quarter, compared to analysts’ expectations of $203.54 million. Equities analysts anticipate that Virtus Investment Partners will post 26.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Barry M. Mandinach sold 7,886 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the sale, the executive vice president now owns 12,418 shares of the company’s stock, valued at $2,905,812. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Advisors LLC purchased a new stake in Virtus Investment Partners during the first quarter valued at approximately $657,000. Tidal Investments LLC boosted its position in shares of Virtus Investment Partners by 9.4% in the first quarter. Tidal Investments LLC now owns 1,048 shares of the closed-end fund’s stock worth $260,000 after purchasing an additional 90 shares during the period. BOKF NA bought a new position in shares of Virtus Investment Partners during the first quarter worth $282,000. Quadrature Capital Ltd boosted its position in shares of Virtus Investment Partners by 80.2% during the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after acquiring an additional 10,461 shares during the last quarter. Finally, Huber Capital Management LLC boosted its position in shares of Virtus Investment Partners by 8.9% during the first quarter. Huber Capital Management LLC now owns 13,608 shares of the closed-end fund’s stock worth $3,375,000 after acquiring an additional 1,110 shares during the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

About Virtus Investment Partners

(Get Free Report)

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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