Virtus Investment Partners (NASDAQ:VRTS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) had its target price raised by research analysts at Piper Sandler from $211.00 to $234.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the closed-end fund's stock. Piper Sandler's price objective would suggest a potential upside of 12.23% from the stock's previous close.

A number of other brokerages also recently issued reports on VRTS. Wall Street Zen raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. TD Cowen lowered 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 note on Wednesday, April 9th. Morgan Stanley set a $171.00 price objective on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Finally, Barclays lifted their price objective on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $188.25.

Virtus Investment Partners Price Performance

Shares of Virtus Investment Partners stock traded up $1.17 during trading hours on Monday, hitting $208.50. The company's stock had a trading volume of 17,012 shares, compared to its average volume of 53,705. The company has a market cap of $1.44 billion, a PE ratio of 12.33 and a beta of 1.44. Virtus Investment Partners has a 12-month low of $142.18 and a 12-month high of $252.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The business has a 50 day moving average price of $182.02 and a two-hundred day moving average price of $180.20.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, topping the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The company had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. During the same period in the previous year, the firm earned $5.41 earnings per share. Analysts expect that Virtus Investment Partners will post 27.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently modified their holdings of VRTS. Nuveen LLC bought a new position in Virtus Investment Partners in the 1st quarter worth about $9,639,000. Norges Bank bought a new position in Virtus Investment Partners in the 4th quarter worth about $9,503,000. Gator Capital Management LLC grew its position in Virtus Investment Partners by 190.7% in the 1st quarter. Gator Capital Management LLC now owns 60,810 shares of the closed-end fund's stock worth $10,481,000 after purchasing an additional 39,895 shares during the last quarter. American Century Companies Inc. grew its position in Virtus Investment Partners by 38.5% in the 1st quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund's stock worth $19,510,000 after purchasing an additional 31,454 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 during the period. 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.

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