Virtus Investment Partners (VRTS) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research analysts have also issued reports on the company. Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the company an equal weight rating in a research report on Thursday, October 5th. Barclays upped their target price on Virtus Investment Partners from $116.00 to $125.00 and gave the company an equal weight rating in a research report on Monday, October 30th. Zacks Investment Research lowered Virtus Investment Partners from a strong-buy rating to a hold rating in a research report on Thursday, October 12th. Bank of America raised Virtus Investment Partners from an underperform rating to a neutral rating and upped their target price for the company from $112.00 to $130.00 in a research report on Monday, October 9th. Finally, ValuEngine lowered Virtus Investment Partners from a buy rating to a hold rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $130.50.

Shares of Virtus Investment Partners (VRTS) opened at $119.40 on Friday. The firm has a market capitalization of $858.96, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.64 and a beta of 1.89. Virtus Investment Partners has a 12 month low of $97.60 and a 12 month high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, October 27th. The closed-end fund reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.08). The company had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $116.85 million. Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. analysts forecast that Virtus Investment Partners will post 7.52 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Virtus Investment Partners by 8.3% during the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after acquiring an additional 63,155 shares during the period. Vanguard Group Inc. grew its holdings in Virtus Investment Partners by 8.6% during the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock worth $78,051,000 after acquiring an additional 55,871 shares during the period. Dimensional Fund Advisors LP grew its holdings in Virtus Investment Partners by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 475,167 shares of the closed-end fund’s stock worth $55,143,000 after acquiring an additional 23,679 shares during the period. Huber Capital Management LLC grew its holdings in Virtus Investment Partners by 10.3% during the second quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock worth $48,594,000 after acquiring an additional 40,924 shares during the period. Finally, Royal Bank of Canada grew its holdings in Virtus Investment Partners by 9.5% during the second quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock worth $27,195,000 after acquiring an additional 21,362 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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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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