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

Equities research analysts at Barclays assumed coverage on shares of Virtus Investment Partners (NASDAQ:VRTS) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set an “underweight” rating and a $206.00 price target on the closed-end fund’s stock. Barclays‘s price target points to a potential upside of 0.55% from the stock’s current price.

Other equities analysts have also issued reports about the company. TD Cowen reduced their price target on 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. Morgan Stanley decreased their target price on shares of Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating for the company in a research note on Monday, July 29th. Finally, Piper Sandler dropped their price target on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $231.25.

Virtus Investment Partners Trading Down 2.3 %

NASDAQ VRTS opened at $204.88 on Tuesday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 15.18 and a current ratio of 15.18. Virtus Investment Partners has a one year low of $168.78 and a one year high of $263.39. The company’s 50 day moving average price is $220.04 and its 200 day moving average price is $227.62.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRTS. Algert Global LLC lifted its position in shares of Virtus Investment Partners by 99.0% during the second quarter. Algert Global LLC now owns 16,659 shares of the closed-end fund’s stock worth $3,762,000 after purchasing an additional 8,288 shares during the last quarter. Mackenzie Financial Corp bought a new position in Virtus Investment Partners during the 2nd quarter worth approximately $289,000. The Manufacturers Life Insurance Company increased its holdings in shares of Virtus Investment Partners by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund’s stock valued at $790,000 after acquiring an additional 135 shares during the last quarter. Millennium Management LLC raised its position in shares of Virtus Investment Partners by 14.6% during the 2nd quarter. Millennium Management LLC now owns 28,113 shares of the closed-end fund’s stock valued at $6,349,000 after acquiring an additional 3,589 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in 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 worth $11,508,000 after purchasing an additional 22,344 shares during the last quarter. 80.52% of the stock is 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.