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.
About Virtus Investment Partners