Zacks Investment Research Lowers Virtus Investment Partners (VRTS) to Hold

Virtus Investment Partners (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

Several other analysts also recently weighed in on VRTS. ValuEngine downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Morgan Stanley boosted their price target on shares of Virtus Investment Partners from $137.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 12th. Sandler O’Neill set a $140.00 price objective on shares of Virtus Investment Partners and gave the company a “hold” rating in a research note on Friday, July 13th. BidaskClub downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group upped their price objective on shares of Virtus Investment Partners from $174.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Virtus Investment Partners presently has an average rating of “Hold” and an average target price of $134.67.



Virtus Investment Partners stock traded up $3.09 during mid-day trading on Wednesday, hitting $101.76. The company’s stock had a trading volume of 302 shares, compared to its average volume of 50,500. The company has a quick ratio of 27.62, a current ratio of 27.62 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $732.88 million, a PE ratio of 13.25, a P/E/G ratio of 0.32 and a beta of 1.54. Virtus Investment Partners has a 12 month low of $96.22 and a 12 month high of $138.02.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.30. The business had revenue of $152.20 million during the quarter, compared to the consensus estimate of $149.06 million. Virtus Investment Partners had a net margin of 14.55% and a return on equity of 19.38%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. As a group, equities analysts expect that Virtus Investment Partners will post 12.4 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Virtus Investment Partners during the second quarter valued at about $215,000. Aperio Group LLC bought a new position in shares of Virtus Investment Partners during the second quarter valued at about $218,000. Crossmark Global Holdings Inc. bought a new position in shares of Virtus Investment Partners during the second quarter valued at about $239,000. SG Americas Securities LLC bought a new position in shares of Virtus Investment Partners during the second quarter valued at about $272,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of Virtus Investment Partners by 47.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 2,564 shares of the closed-end fund’s stock valued at $328,000 after acquiring an additional 828 shares during the last quarter. 97.51% of the stock is owned by hedge funds and other institutional investors.

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.

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