Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $224.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target boosted by stock analysts at Morgan Stanley from $211.00 to $224.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s price target suggests a potential upside of 1.91% from the stock’s previous close.

Several other research analysts also recently issued reports on VRTS. Piper Sandler upped their price target on shares of Virtus Investment Partners from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. StockNews.com downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, TD Cowen downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating and reduced their price target for the stock from $285.00 to $264.00 in a research report on Monday, April 8th.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $219.80 on Wednesday. The stock has a market cap of $1.58 billion, a PE ratio of 12.41 and a beta of 1.52. The business has a fifty day moving average of $236.12 and a two-hundred day moving average of $219.99. Virtus Investment Partners has a 52-week low of $165.00 and a 52-week high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.96 by $0.15. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. The company had revenue of $214.59 million during the quarter, compared to analysts’ expectations of $196.20 million. During the same period last year, the business earned $5.17 earnings per share. Analysts predict that Virtus Investment Partners will post 26.89 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its position in Virtus Investment Partners by 82.1% during the 1st quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Point72 Hong Kong Ltd increased its stake in shares of Virtus Investment Partners by 1,937.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 155 shares during the last quarter. Signaturefd LLC increased its stake in shares of Virtus Investment Partners by 44.9% in the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock valued at $35,000 after acquiring an additional 53 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Virtus Investment Partners by 550.0% in the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after acquiring an additional 154 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Virtus Investment Partners by 495.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 387 shares of the closed-end fund’s stock valued at $74,000 after acquiring an additional 322 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

About Virtus Investment Partners

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.