BidaskClub Lowers Virtus Investment Partners (VRTS) to Hold

BidaskClub downgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other analysts also recently issued reports on VRTS. Sandler O’Neill set a $131.00 target price on shares of Virtus Investment Partners and gave the stock a hold rating in a research report on Monday, February 12th. Credit Suisse Group increased their target price on shares of Virtus Investment Partners from $166.00 to $173.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. TheStreet downgraded shares of Virtus Investment Partners from a b rating to a c+ rating in a research report on Wednesday, February 14th. Morgan Stanley increased their target price on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Barclays increased their target price on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the stock an equal weight rating in a research report on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Virtus Investment Partners currently has an average rating of Hold and a consensus price target of $139.00.

Virtus Investment Partners (VRTS) traded up $0.30 on Friday, reaching $122.30. 80,944 shares of the company were exchanged, compared to its average volume of 63,934. The firm has a market cap of $873.28, a P/E ratio of 30.96, a PEG ratio of 0.27 and a beta of 1.79. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $134.65.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.18. The firm had revenue of $128.00 million during the quarter, compared to the consensus estimate of $127.09 million. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.93%. The company’s revenue was up 60.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. equities analysts predict that Virtus Investment Partners will post 12.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, April 27th. Virtus Investment Partners’s dividend payout ratio is presently 45.57%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new position in Virtus Investment Partners in the 3rd quarter worth approximately $204,000. Cubist Systematic Strategies LLC boosted its holdings in Virtus Investment Partners by 1,798.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock worth $209,000 after acquiring an additional 1,709 shares during the period. Teacher Retirement System of Texas purchased a new position in Virtus Investment Partners in the 4th quarter worth approximately $287,000. Municipal Employees Retirement System of Michigan boosted its holdings in Virtus Investment Partners by 73.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock worth $316,000 after acquiring an additional 1,150 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Virtus Investment Partners by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock worth $319,000 after acquiring an additional 427 shares during the period. Hedge funds and other institutional investors own 96.96% of the company’s stock.

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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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