Virtus Investment Partners, Inc. (VRTS) Stock Rating Upgraded by Bank of America Corporation

Virtus Investment Partners, Inc. (NASDAQ:VRTS) was upgraded by equities researchers at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday. The brokerage presently has a $130.00 price target on the closed-end fund’s stock, up from their previous price target of $112.00. Bank of America Corporation’s price objective would suggest a potential upside of 5.91% from the company’s previous close.

VRTS has been the topic of a number of other research reports. BidaskClub downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC began coverage on Virtus Investment Partners in a research note on Friday, September 8th. They issued an “equal weight” rating and a $113.00 target price on the stock. Credit Suisse Group upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $141.00 to $147.00 in a research note on Monday, July 31st. Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $129.33.

Virtus Investment Partners (NASDAQ VRTS) opened at 122.75 on Monday. The stock has a market capitalization of $885.89 million, a PE ratio of 23.89 and a beta of 1.76. The stock’s 50 day moving average price is $111.61 and its 200-day moving average price is $109.24. Virtus Investment Partners has a 52-week low of $92.80 and a 52-week high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.05). Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The company had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts expect that Virtus Investment Partners will post $7.63 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the business. Koch Industries Inc. purchased a new position in Virtus Investment Partners during the first quarter worth approximately $203,000. Citadel Advisors LLC purchased a new position in Virtus Investment Partners during the first quarter worth approximately $18,618,000. Prudential Financial Inc. boosted its position in Virtus Investment Partners by 14.8% during the first quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock worth $1,188,000 after purchasing an additional 1,448 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Virtus Investment Partners during the first quarter worth approxima

VRTS has been the topic of a number of other research reports. BidaskClub downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC began coverage on Virtus Investment Partners in a research note on Friday, September 8th. They issued an “equal weight” rating and a $113.00 target price on the stock. Credit Suisse Group upgraded Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $141.00 to $147.00 in a research note on Monday, July 31st. Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $129.33.

Virtus Investment Partners (NASDAQ VRTS) opened at 122.75 on Monday. The stock has a market capitalization of $885.89 million, a PE ratio of 23.89 and a beta of 1.76. The stock’s 50 day moving average price is $111.61 and its 200-day moving average price is $109.24. Virtus Investment Partners has a 52-week low of $92.80 and a 52-week high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.05). Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The company had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts expect that Virtus Investment Partners will post $7.63 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Virtus Investment Partners, Inc. (VRTS) Stock Rating Upgraded by Bank of America Corporation” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/11/virtus-investment-partners-inc-vrts-stock-rating-upgraded-by-bank-of-america-corporation.html.

Hedge funds have recently modified their holdings of the business. Koch Industries Inc. purchased a new position in Virtus Investment Partners during the first quarter worth approximately $203,000. Citadel Advisors LLC purchased a new position in Virtus Investment Partners during the first quarter worth approximately $18,618,000. Prudential Financial Inc. boosted its position in Virtus Investment Partners by 14.8% during the first quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock worth $1,188,000 after purchasing an additional 1,448 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Virtus Investment Partners during the first quarter worth approximately $1,739,000. Finally, Texas Permanent School Fund boosted its position in Virtus Investment Partners by 15.0% during the first quarter. Texas Permanent School Fund now owns 4,690 shares of the closed-end fund’s stock worth $497,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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