Today: Today, Virtus Investment Partners Inc. (VRTS) Receives Hold Rating from Credit Suisse Group AG

Today, Virtus Investment Partners Inc. (VRTS) Receives Hold Rating from Credit Suisse Group AG

Virtus Investment Partners Inc. (NASDAQ:VRTS)‘s stock had its “hold” rating reissued by analysts at Credit Suisse Group AG in a research note issued to investors on Monday. They presently have a $110.00 target price on the closed-end fund’s stock. Credit Suisse Group AG’s price objective points to a potential downside of 5.25% from the company’s current price.

Several other analysts also recently commented on VRTS. Jefferies Group raised their target price on Virtus Investment Partners from $74.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, August 8th. Zacks Investment Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $97.00.

Virtus Investment Partners (NASDAQ:VRTS) traded up 0.22% during trading on Monday, hitting $116.10. The stock had a trading volume of 32,267 shares. The firm has a 50 day moving average price of $103.71 and a 200-day moving average price of $89.57. The firm has a market capitalization of $683.60 million, a PE ratio of 22.67 and a beta of 1.77. Virtus Investment Partners has a 1-year low of $66.12 and a 1-year high of $141.97.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, October 28th. The closed-end fund reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.16. The company earned $82.30 million during the quarter, compared to the consensus estimate of $80.77 million. Virtus Investment Partners had a return on equity of 9.15% and a net margin of 12.99%. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period last year, the business posted $1.74 EPS. On average, equities research analysts expect that Virtus Investment Partners will post $5.75 EPS for the current year.

In other Virtus Investment Partners news, major shareholder Of Montreal /Can/ Bank sold 1,727,746 shares of Virtus Investment Partners stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $93.50, for a total transaction of $161,544,251.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of VRTS. BlackRock Inc. boosted its position in Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Virtus Investment Partners by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,320 shares of the closed-end fund’s stock valued at $129,000 after buying an additional 20 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock valued at $146,000 after buying an additional 957 shares in the last quarter. Morgan Stanley boosted its position in Virtus Investment Partners by 29.4% in the third quarter. Morgan Stanley now owns 1,497 shares of the closed-end fund’s stock valued at $147,000 after buying an additional 340 shares in the last quarter. Finally, KBC Group NV boosted its position in Virtus Investment Partners by 181.9% in the third quarter. KBC Group NV now owns 1,818 shares of the closed-end fund’s stock valued at $178,000 after buying an additional 1,173 shares in the last quarter. 96.65% of the stock is currently owned by hedge funds and other institutional investors.

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