Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) has been assigned a $171.00 target price by Morgan Stanley in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has an "underweight" rating on the closed-end fund's stock. Morgan Stanley's price objective would suggest a potential downside of 14.11% from the company's previous close.
Several other brokerages have also issued reports on VRTS. Piper Sandler cut their target price on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. TD Cowen cut their price objective on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Barclays set a $150.00 price objective on Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $172.50.
View Our Latest Report on Virtus Investment Partners
Virtus Investment Partners Stock Performance
Shares of VRTS traded down $1.61 during trading hours on Wednesday, hitting $199.10. The stock had a trading volume of 96,027 shares, compared to its average volume of 50,259. The firm has a market capitalization of $1.38 billion, a PE ratio of 11.78 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. Virtus Investment Partners has a 12 month low of $142.18 and a 12 month high of $252.82. The stock has a fifty day moving average price of $173.22 and a 200 day moving average price of $182.03.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $201.99 million. During the same period last year, the firm posted $5.41 earnings per share. Analysts anticipate that Virtus Investment Partners will post 27.7 EPS for the current year.
Institutional Trading of Virtus Investment Partners
Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Virtus Investment Partners by 8.3% during 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 buying an additional 23,081 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Virtus Investment Partners by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock valued at $34,858,000 after acquiring an additional 12,642 shares during the period. American Century Companies Inc. lifted its position in shares of Virtus Investment Partners by 38.5% in the first quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund's stock valued at $19,510,000 after acquiring an additional 31,454 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Virtus Investment Partners by 1.4% in the first 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. boosted its stake in shares of Virtus Investment Partners by 1.1% in the first 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. 80.52% of the stock is owned by hedge funds and other institutional investors.
About Virtus Investment Partners
(
Get Free Report)
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.
See Also
Before you consider Virtus Investment Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Virtus Investment Partners wasn't on the list.
While Virtus Investment Partners currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
