Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $170.00 at Piper Sandler

Key Points

• Piper Sandler cut its price target on Virtus to $170 (from $181) but kept an "overweight" rating, implying roughly a 27.7% upside from the prior close.
• Analyst coverage is mixed and the MarketBeat consensus is "Reduce"—one Buy, two Hold and two Sell—with an average target price of $148.25.
• Fundamentals and insider activity: VRTS traded around $133.14 with a market cap of about $890M and a P/E of 7.75, and director W. Howard Morris purchased 2,150 shares at $129.34; insiders own 6.4% and institutions roughly 80.5%.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) had its price target cut by equities researchers at Piper Sandler from $181.00 to $170.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the closed-end fund's stock. Piper Sandler's price objective would suggest a potential upside of 27.69% from the stock's previous close.

Several other brokerages also recently commented on VRTS. Morgan Stanley dropped their target price on shares of Virtus Investment Partners from $155.00 to $125.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Barclays set a $125.00 price target on shares of Virtus Investment Partners in a research report on Monday. TD Cowen reiterated a "hold" rating on shares of Virtus Investment Partners in a research report on Monday, April 20th. Finally, Zacks Research upgraded Virtus Investment Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, January 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $148.25.

Virtus Investment Partners Price Performance

VRTS opened at $133.14 on Monday. The firm has a market capitalization of $889.61 million, a P/E ratio of 7.75 and a beta of 1.41. The stock has a fifty day moving average of $136.05 and a 200-day moving average of $153.17. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners has a 12-month low of $121.61 and a 12-month high of $215.06.

Insider Buying and Selling

In other news, Director W Howard Morris acquired 2,150 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $129.34 per share, for a total transaction of $278,081.00. Following the transaction, the director owned 2,000 shares of the company's stock, valued at approximately $258,680. This represents a -1,433.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Virtus Investment Partners

Several large investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd increased its position in Virtus Investment Partners by 1.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 4,670 shares of the closed-end fund's stock worth $887,000 after purchasing an additional 67 shares during the period. PNC Financial Services Group Inc. lifted its position in Virtus Investment Partners by 24.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund's stock valued at $81,000 after purchasing an additional 97 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Virtus Investment Partners by 1.9% in the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund's stock valued at $881,000 after purchasing an additional 100 shares during the last quarter. Swiss National Bank boosted its stake in shares of Virtus Investment Partners by 0.8% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund's stock valued at $2,413,000 after purchasing an additional 100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Virtus Investment Partners by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund's stock worth $681,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 80.52% of the company's stock.

About Virtus Investment Partners

Virtus Investment Partners NASDAQ: VRTS is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company's product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.

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