Virtus Investment Partners Inc (NASDAQ:VRTS) Receives $108.33 Average PT from Brokerages

Shares of Virtus Investment Partners Inc (NASDAQ:VRTS) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $108.33.

VRTS has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Virtus Investment Partners from $118.00 to $108.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $122.00 price target on the stock in a report on Saturday, July 13th. BidaskClub downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Friday. Finally, ValuEngine raised shares of Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Thursday.

NASDAQ:VRTS traded up $0.62 on Wednesday, reaching $101.06. 32,883 shares of the stock traded hands, compared to its average volume of 74,663. The company has a market capitalization of $701.86 million, a price-to-earnings ratio of 8.24, a PEG ratio of 1.22 and a beta of 1.54. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.55. Virtus Investment Partners has a 12 month low of $70.00 and a 12 month high of $126.55. The company’s fifty day simple moving average is $109.16 and its 200 day simple moving average is $108.68.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.22. The business had revenue of $140.49 million during the quarter, compared to analyst estimates of $144.92 million. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. Virtus Investment Partners’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $2.73 EPS. Equities analysts anticipate that Virtus Investment Partners will post 13.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, October 30th. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 17.94%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC boosted its holdings in shares of Virtus Investment Partners by 1.9% during the 2nd quarter. Aperio Group LLC now owns 8,396 shares of the closed-end fund’s stock valued at $902,000 after acquiring an additional 155 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Virtus Investment Partners in the second quarter worth approximately $34,000. Bank of Montreal Can boosted its holdings in shares of Virtus Investment Partners by 327.5% in the second quarter. Bank of Montreal Can now owns 731 shares of the closed-end fund’s stock worth $78,000 after buying an additional 560 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Virtus Investment Partners by 3.9% in the second quarter. Macquarie Group Ltd. now owns 15,619 shares of the closed-end fund’s stock worth $1,677,000 after buying an additional 587 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Virtus Investment Partners in the second quarter worth approximately $64,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Momentum Investing

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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