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

Virtus Investment Partners (NASDAQ:VRTS) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

VRTS has been the topic of a number of other research reports. Sandler O’Neill reiterated a “hold” rating and issued a $131.00 target price on shares of Virtus Investment Partners in a research report on Wednesday, April 11th. TheStreet cut shares of Virtus Investment Partners from a “b” rating to a “c+” rating in a research report on Wednesday, February 14th. Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Barclays lifted their target price on shares of Virtus Investment Partners from $130.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, April 30th. Finally, Zacks Investment Research cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $138.13.

Virtus Investment Partners opened at $129.45 on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.48, a quick ratio of 32.03 and a current ratio of 32.03. The firm has a market cap of $894.96 million, a PE ratio of 16.84, a P/E/G ratio of 0.42 and a beta of 1.66. Virtus Investment Partners has a fifty-two week low of $124.90 and a fifty-two week high of $125.60.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, April 27th. The closed-end fund reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.19. The firm had revenue of $129.00 million for the quarter, compared to analysts’ expectations of $129.64 million. Virtus Investment Partners had a net margin of 9.96% and a return on equity of 15.49%. The business’s quarterly revenue was up 61.7% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. equities analysts forecast that Virtus Investment Partners will post 12.28 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Virtus Investment Partners by 104.7% in the 3rd quarter. Wells Fargo & Company MN now owns 8,999 shares of the closed-end fund’s stock worth $1,045,000 after acquiring an additional 4,602 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Virtus Investment Partners by 2.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 30,617 shares of the closed-end fund’s stock worth $3,523,000 after acquiring an additional 769 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Virtus Investment Partners by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 183,104 shares of the closed-end fund’s stock worth $21,066,000 after acquiring an additional 1,144 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Virtus Investment Partners in the 4th quarter worth $1,181,000. Finally, WCM Investment Management CA grew its holdings in Virtus Investment Partners by 494.8% in the 4th quarter. WCM Investment Management CA now owns 55,076 shares of the closed-end fund’s stock worth $6,336,000 after acquiring an additional 45,817 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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