Virtus Investment Partners (NASDAQ:VRTS) Given New $190.00 Price Target at Barclays

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) had its target price upped by equities research analysts at Barclays from $150.00 to $190.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the closed-end fund's stock. Barclays's price target indicates a potential downside of 8.67% from the stock's previous close.

Other analysts have also issued reports about the company. Wall Street Zen raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Piper Sandler decreased their target price on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Cowen cut their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley set a $171.00 price target on Virtus Investment Partners and gave the stock an "underweight" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of "Hold" and a consensus target price of $182.50.

Virtus Investment Partners Stock Down 1.1%

Shares of VRTS traded down $2.30 during midday trading on Wednesday, reaching $208.03. 17,525 shares of the stock were exchanged, compared to its average volume of 53,448. Virtus Investment Partners has a 52 week low of $142.18 and a 52 week high of $252.82. 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 company's 50 day moving average is $181.17 and its two-hundred day moving average is $180.83. The company has a market capitalization of $1.44 billion, a P/E ratio of 12.31 and a beta of 1.44.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, topping the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. The business had revenue of $217.93 million during the quarter, compared to the consensus estimate of $201.99 million. During the same quarter last year, the company earned $5.41 earnings per share. On average, sell-side analysts anticipate that Virtus Investment Partners will post 27.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Virtus Investment Partners by 8.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 299,961 shares of the closed-end fund's stock valued at $51,701,000 after purchasing an additional 23,081 shares during the period. JPMorgan Chase & Co. lifted its position in Virtus Investment Partners by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock worth $34,858,000 after acquiring an additional 12,642 shares during the period. American Century Companies Inc. lifted its position in Virtus Investment Partners by 38.5% during the 1st quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund's stock worth $19,510,000 after acquiring an additional 31,454 shares during the period. Northern Trust Corp lifted its position in Virtus Investment Partners by 1.4% during the 1st quarter. Northern Trust Corp now owns 107,639 shares of the closed-end fund's stock worth $18,553,000 after acquiring an additional 1,535 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Virtus Investment Partners by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 94,674 shares of the closed-end fund's stock worth $16,318,000 after acquiring an additional 1,026 shares during the period. 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 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.