Virtus Investment Partners (NASDAQ:VRTS) Trading Up 5.8%

Virtus Investment Partners Inc (NASDAQ:VRTS) was up 5.8% on Monday . The company traded as high as $98.62 and last traded at $96.15, approximately 111,700 shares were traded during mid-day trading. An increase of 49% from the average daily volume of 75,052 shares. The stock had previously closed at $90.90.

A number of equities analysts have weighed in on VRTS shares. ValuEngine raised shares of Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 3rd. Bank of America raised shares of Virtus Investment Partners from a “neutral” rating to a “buy” rating in a research note on Monday. BidaskClub downgraded shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday. Barclays reaffirmed a “hold” rating and issued a $105.00 target price on shares of Virtus Investment Partners in a research note on Wednesday, October 9th. Finally, Morgan Stanley dropped their target price on shares of Virtus Investment Partners from $108.00 to $106.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $108.33.

The firm’s 50-day moving average price is $108.39 and its 200 day moving average price is $108.53. The company has a debt-to-equity ratio of 0.55, a quick ratio of 27.91 and a current ratio of 27.91. The company has a market cap of $667.76 million, a price-to-earnings ratio of 7.84, a PEG ratio of 1.95 and a beta of 1.54.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, July 26th. The closed-end fund reported $3.63 EPS for the quarter, topping the consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The company had revenue of $140.49 million during the quarter, compared to analysts’ expectations of $144.92 million. During the same quarter in the previous year, the company earned $2.73 EPS. Virtus Investment Partners’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts predict that Virtus Investment Partners Inc will post 13.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.67 per share. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, October 30th. This represents a $2.68 annualized dividend and a dividend yield of 2.79%. Virtus Investment Partners’s payout ratio is currently 17.94%.

Large investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of Virtus Investment Partners during the 2nd quarter worth approximately $34,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Virtus Investment Partners during the 2nd quarter worth approximately $64,000. Bank of Montreal Can grew its position in shares of Virtus Investment Partners by 327.5% during the 2nd quarter. Bank of Montreal Can now owns 731 shares of the closed-end fund’s stock worth $78,000 after buying an additional 560 shares during the period. HM Payson & Co. acquired a new stake in shares of Virtus Investment Partners during the 2nd quarter worth approximately $193,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Virtus Investment Partners during the 2nd quarter worth approximately $260,000. Institutional investors own 90.40% of the company’s stock.

About Virtus Investment Partners (NASDAQ:VRTS)

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.

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