Piper Sandler Raises Virtus Investment Partners (NASDAQ:VRTS) Price Target to $267.00

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) had its price target hoisted by investment analysts at Piper Sandler from $265.00 to $267.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s price target would indicate a potential upside of 17.78% from the company’s previous close.

Several other research firms have also issued reports on VRTS. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley increased their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, TD Cowen raised their price target on Virtus Investment Partners from $245.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, April 29th.

Get Our Latest Research Report on VRTS

Virtus Investment Partners Stock Up 0.4 %

Shares of NASDAQ:VRTS opened at $226.69 on Wednesday. The business has a fifty day moving average of $232.79 and a two-hundred day moving average of $229.14. The stock has a market cap of $1.62 billion, a P/E ratio of 13.66 and a beta of 1.50. Virtus Investment Partners has a 52-week low of $168.78 and a 52-week high of $263.39.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last released its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $5.41. The business had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. On average, equities analysts anticipate that Virtus Investment Partners will post 26.43 earnings per share for the current year.

Insider Buying and Selling at Virtus Investment Partners

In other news, EVP Barry M. Mandinach sold 7,886 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $234.00, for a total value of $1,845,324.00. Following the completion of the sale, the executive vice president now directly owns 12,418 shares of the company’s stock, valued at approximately $2,905,812. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently bought and sold shares of VRTS. Signaturefd LLC raised its holdings in shares of Virtus Investment Partners by 44.9% in the third quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock worth $35,000 after acquiring an additional 53 shares during the last quarter. Blue Trust Inc. increased its stake in Virtus Investment Partners by 550.0% in the fourth quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after purchasing an additional 154 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Virtus Investment Partners during the first quarter worth about $57,000. EntryPoint Capital LLC increased its stake in Virtus Investment Partners by 625.6% during the first quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after acquiring an additional 269 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Virtus Investment Partners during the first quarter worth about $220,000. 80.52% of the stock is owned by institutional investors and hedge funds.

About Virtus Investment Partners

(Get Free Report)

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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