Virtus Investment Partners (NASDAQ:VRTS) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Virtus Investment Partners (NASDAQ:VRTS) in a note issued to investors on Tuesday, Briefing.com reports. The firm set an “underweight” rating and a $206.00 price target on the closed-end fund’s stock. Barclays‘s target price would suggest a potential downside of 4.03% from the stock’s current price.

Several other equities research analysts have also recently weighed in on VRTS. Morgan Stanley dropped their price objective on Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating for the company in a report on Monday, July 29th. TD Cowen reduced their price objective on shares of Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $231.25.

Virtus Investment Partners Stock Down 1.0 %

Shares of NASDAQ:VRTS opened at $214.64 on Tuesday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 12.93 and a beta of 1.46. The stock’s 50-day moving average price is $220.46 and its 200-day moving average price is $227.95. The company has a current ratio of 15.18, a quick ratio of 6.36 and a debt-to-equity ratio of 0.28. Virtus Investment Partners has a 12-month low of $168.78 and a 12-month high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 26th. The closed-end fund reported $6.53 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.08). The company had revenue of $203.02 million during the quarter, compared to analysts’ expectations of $204.71 million. Virtus Investment Partners had a return on equity of 20.35% and a net margin of 12.41%. On average, equities analysts anticipate that Virtus Investment Partners will post 25.84 earnings per share for the current year.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Virtus Investment Partners by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 328,067 shares of the closed-end fund’s stock worth $74,092,000 after acquiring an additional 8,393 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Virtus Investment Partners by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 96,081 shares of the closed-end fund’s stock worth $23,229,000 after purchasing an additional 1,715 shares in the last quarter. Norges Bank purchased a new position in shares of Virtus Investment Partners in the fourth quarter worth $14,649,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Virtus Investment Partners by 1.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 54,260 shares of the closed-end fund’s stock valued at $13,118,000 after purchasing an additional 770 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Virtus Investment Partners by 78.1% during the second quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund’s stock valued at $11,508,000 after buying an additional 22,344 shares during the last quarter. Hedge funds and other institutional investors own 80.52% 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.