Piper Sandler Forecasts Strong Price Appreciation for Virtus Investment Partners (NASDAQ:VRTS) Stock

Key Points

• Piper Sandler raised its VRTS price target to $162 from $146 and maintained an “overweight” rating, implying 15.32% upside from the prior close.
• Analyst sentiment is mixed overall: MarketBeat reports a consensus “Reduce” rating and an average price target of $133.75, with three analysts rating the stock Sell and one each rating it Hold and Buy.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) had its target price hoisted by analysts at Piper Sandler from $146.00 to $162.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the closed-end fund's stock. Piper Sandler's price objective indicates a potential upside of 15.32% from the company's previous close.

VRTS has been the subject of a number of other reports. Zacks Research downgraded shares of Virtus Investment Partners from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 14th. TD Cowen cut their price target on shares of Virtus Investment Partners from $155.00 to $136.00 and set a "hold" rating on the stock in a research note on Monday, October 12th. Barclays decreased their price target on shares of Virtus Investment Partners from $135.00 to $117.00 and set an "underweight" rating on the stock in a report on Wednesday, October 14th. Finally, Morgan Stanley lowered their price objective on shares of Virtus Investment Partners from $130.00 to $120.00 and set an "underweight" rating for the company in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Virtus Investment Partners presently has a consensus rating of "Reduce" and an average price target of $133.75.

Virtus Investment Partners Stock Up 10.3%

Shares of NASDAQ:VRTS opened at $140.47 on Tuesday. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a market cap of $930.35 million, a price-to-earnings ratio of 8.31 and a beta of 1.44. The stock's 50-day moving average price is $132.80 and its two-hundred day moving average price is $144.06. Virtus Investment Partners has a 12-month low of $116.71 and a 12-month high of $175.66.

Insiders Place Their Bets

In other Virtus Investment Partners news, Director W. Morris sold 435 shares of Virtus Investment Partners stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total value of $60,286.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company's stock.

Institutional Trading of Virtus Investment Partners

Several institutional investors and hedge funds have recently bought and sold shares of VRTS. Illinois Municipal Retirement Fund boosted its holdings in Virtus Investment Partners by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund's stock valued at $463,000 after purchasing an additional 77 shares in the last quarter. IFP Advisors Inc increased its position in Virtus Investment Partners by 158.6% in the 2nd quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund's stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Virtus Investment Partners by 86.2% in the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund's stock worth $39,000 after acquiring an additional 125 shares during the last quarter. Signaturefd LLC raised its stake in shares of Virtus Investment Partners by 150.0% in the third quarter. Signaturefd LLC now owns 260 shares of the closed-end fund's stock worth $34,000 after acquiring an additional 156 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Virtus Investment Partners during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 80.52% of the company's stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.

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