Virtus Investment Partners (NASDAQ:VRTS) Given New $106.00 Price Target at Morgan Stanley

Virtus Investment Partners (NASDAQ:VRTS) had its price objective reduced by Morgan Stanley from $108.00 to $106.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the closed-end fund’s stock.

Several other research firms also recently issued reports on VRTS. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a strong-buy rating and set a $122.00 price target for the company in a research note on Saturday, July 13th. BidaskClub downgraded Virtus Investment Partners from a hold rating to a sell rating in a research note on Friday, October 4th. ValuEngine raised Virtus Investment Partners from a strong sell rating to a sell rating in a research note on Thursday, October 3rd. Finally, Bank of America cut their target price on shares of Virtus Investment Partners from $123.00 to $110.00 and set a neutral rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $108.33.

NASDAQ:VRTS opened at $93.23 on Tuesday. The company has a market capitalization of $701.85 million, a PE ratio of 7.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.54. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.55. Virtus Investment Partners has a 52-week low of $70.00 and a 52-week high of $126.55. The stock has a fifty day simple moving average of $109.24 and a 200-day simple moving average of $108.65.



Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 26th. The closed-end fund reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.22. The business had revenue of $140.49 million during the quarter, compared to the consensus estimate of $144.92 million. Virtus Investment Partners had a return on equity of 21.29% and a net margin of 13.86%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.73 EPS. As a group, equities analysts anticipate that Virtus Investment Partners will post 13.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.67 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $2.68 annualized dividend and a yield of 2.87%. Virtus Investment Partners’s payout ratio is presently 17.94%.

A number of hedge funds have recently made changes to their positions in VRTS. Renaissance Technologies LLC acquired a new position in Virtus Investment Partners in the 2nd quarter valued at about $4,041,000. Clark Capital Management Group Inc. purchased a new stake in Virtus Investment Partners in the 2nd quarter valued at about $3,410,000. Nuveen Asset Management LLC grew its holdings in Virtus Investment Partners by 755.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 30,058 shares of the closed-end fund’s stock valued at $3,229,000 after buying an additional 26,543 shares during the period. Morgan Stanley grew its holdings in Virtus Investment Partners by 170.5% in the 2nd quarter. Morgan Stanley now owns 33,666 shares of the closed-end fund’s stock valued at $3,617,000 after buying an additional 21,219 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Virtus Investment Partners in the 1st quarter valued at about $1,817,000. 90.34% 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.

See Also: Marijuana Stocks

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.