Virtus Investment Partners (NASDAQ:VRTS) Stock Rating Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Virtus Investment Partners to “strong sell” from “hold,” while Barclays, TD Cowen and Morgan Stanley also lowered their price targets. Analysts collectively rate the stock “Reduce,” with an average target price of $135.75.
• VRTS shares opened at $122.66, near their 52-week low of $120.18 and well below the 52-week high of $192.00, with the stock’s 50-day and 200-day moving averages near $147.
• Company insiders recently sold shares, including an executive vice president’s $2.5 million transaction; insiders own 6.40% of the stock, while institutional investors hold 80.52%.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday, Zacks reports.

A number of other brokerages have also recently commented on VRTS. Barclays dropped their price target on Virtus Investment Partners from $135.00 to $117.00 and set an "underweight" rating on the stock in a research report on Wednesday. TD Cowen reduced their price objective on Virtus Investment Partners from $155.00 to $136.00 and set a "hold" rating for the company in a research report on Monday. Finally, Morgan Stanley reduced their price objective on Virtus Investment Partners from $130.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Virtus Investment Partners presently has an average rating of "Reduce" and an average target price of $135.75.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $122.66 on Wednesday. The stock has a market cap of $812.38 million, a PE ratio of 7.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners has a fifty-two week low of $120.18 and a fifty-two week high of $192.00. The firm's 50-day simple moving average is $147.77 and its two-hundred day simple moving average is $147.21.

Insiders Place Their Bets

In other news, EVP Michael A. Angerthal sold 14,975 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the completion of the transaction, the executive vice president directly owned 63,461 shares of the company's stock, valued at $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W. Morris sold 435 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total transaction of $60,286.65. The SEC filing for this sale provides additional information. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently made changes to their positions in VRTS. International Assets Investment Management LLC bought a new position in Virtus Investment Partners in the first quarter worth approximately $26,000. IFP Advisors Inc boosted its stake in shares of Virtus Investment Partners by 158.6% in the second quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund's stock worth $26,000 after acquiring an additional 111 shares during the period. Caitlin John LLC bought a new position in Virtus Investment Partners in the 2nd quarter worth approximately $35,000. Assetmark Inc. purchased a new position in Virtus Investment Partners during the first quarter valued at $36,000. Finally, GAMMA Investing LLC grew its position in shares of Virtus Investment Partners by 86.2% during the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund's stock valued at $39,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a U.S.-based asset management company that operates as a multi-manager investment platform. Through a collection of affiliated investment managers, the company provides investment strategies designed to address a range of investor objectives and risk profiles.

Virtus offers mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment solutions. Its affiliated managers provide expertise across domestic and international equities, fixed income, multi-asset strategies, alternatives and other specialized investment approaches.

The company traces its roots to 1995 and was previously associated with Phoenix Investment Partners before adopting the Virtus Investment Partners name.

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