Virtus Investment Partners, Inc. (VRTS) Downgraded to “Hold” at Zacks Investment Research

Virtus Investment Partners, Inc. (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, October 12th.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

VRTS has been the topic of several other research reports. Barclays PLC boosted their price target on Virtus Investment Partners from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. BidaskClub lowered Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and issued a $127.00 price objective (up from $117.00) on shares of Virtus Investment Partners in a report on Tuesday, October 10th. Credit Suisse Group raised Virtus Investment Partners from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $141.00 to $147.00 in a report on Monday, July 31st. Finally, Morgan Stanley set a $123.00 price objective on Virtus Investment Partners and gave the company an “equal weight” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $129.33.

Shares of Virtus Investment Partners (VRTS) traded up 1.35% during mid-day trading on Thursday, reaching $124.25. The company had a trading volume of 70,082 shares. The stock’s 50-day moving average price is $115.43 and its 200 day moving average price is $110.21. The company has a market capitalization of $896.71 million, a PE ratio of 24.18 and a beta of 1.76. Virtus Investment Partners has a 1-year low of $92.80 and a 1-year high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $94.10 million during the quarter, compared to analyst estimates of $91.78 million. During the same quarter last year, the firm posted $1.24 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts expect that Virtus Investment Partners will post $7.63 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Virtus Investment Partners, Inc. (VRTS) Downgraded to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/23/virtus-investment-partners-inc-vrts-downgraded-by-zacks-investment-research-to-hold.html.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Virtus Investment Partners by 0.5% during the second quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after buying an additional 21 shares during the period. Sterling Capital Management LLC boosted its position in shares of Virtus Investment Partners by 0.8% during the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock worth $856,000 after buying an additional 58 shares during the period. Prudential Financial Inc. boosted its position in shares of Virtus Investment Partners by 0.5% during the second quarter. Prudential Financial Inc. now owns 11,278 shares of the closed-end fund’s stock worth $1,251,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Virtus Investment Partners by 3.8% during the second quarter. Louisiana State Employees Retirement System now owns 2,700 shares of the closed-end fund’s stock worth $300,000 after buying an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Virtus Investment Partners by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 1,570 shares of the closed-end fund’s stock worth $174,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

About Virtus Investment Partners

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 (U

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

VRTS has been the topic of several other research reports. Barclays PLC boosted their price target on Virtus Investment Partners from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. BidaskClub lowered Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and issued a $127.00 price objective (up from $117.00) on shares of Virtus Investment Partners in a report on Tuesday, October 10th. Credit Suisse Group raised Virtus Investment Partners from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $141.00 to $147.00 in a report on Monday, July 31st. Finally, Morgan Stanley set a $123.00 price objective on Virtus Investment Partners and gave the company an “equal weight” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $129.33.

Shares of Virtus Investment Partners (VRTS) traded up 1.35% during mid-day trading on Thursday, reaching $124.25. The company had a trading volume of 70,082 shares. The stock’s 50-day moving average price is $115.43 and its 200 day moving average price is $110.21. The company has a market capitalization of $896.71 million, a PE ratio of 24.18 and a beta of 1.76. Virtus Investment Partners has a 1-year low of $92.80 and a 1-year high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $94.10 million during the quarter, compared to analyst estimates of $91.78 million. During the same quarter last year, the firm posted $1.24 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts expect that Virtus Investment Partners will post $7.63 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Virtus Investment Partners, Inc. (VRTS) Downgraded to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/23/virtus-investment-partners-inc-vrts-downgraded-by-zacks-investment-research-to-hold.html.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Virtus Investment Partners by 0.5% during the second quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after buying an additional 21 shares during the period. Sterling Capital Management LLC boosted its position in shares of Virtus Investment Partners by 0.8% during the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock worth $856,000 after buying an additional 58 shares during the period. Prudential Financial Inc. boosted its position in shares of Virtus Investment Partners by 0.5% during the second quarter. Prudential Financial Inc. now owns 11,278 shares of the closed-end fund’s stock worth $1,251,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Virtus Investment Partners by 3.8% during the second quarter. Louisiana State Employees Retirement System now owns 2,700 shares of the closed-end fund’s stock worth $300,000 after buying an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Virtus Investment Partners by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 1,570 shares of the closed-end fund’s stock worth $174,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

About Virtus Investment Partners

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.

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