Virtus Investment Partners (NASDAQ:VRTS) Price Target Increased to $298.00 by Analysts at Morgan Stanley


Share on StockTwits

Virtus Investment Partners (NASDAQ:VRTS) had its price target boosted by Morgan Stanley from $275.00 to $298.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the closed-end fund’s stock. Morgan Stanley’s price target would indicate a potential upside of 22.15% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays boosted their price objective on shares of Virtus Investment Partners from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Virtus Investment Partners has a consensus rating of “Buy” and a consensus target price of $255.40.

VRTS traded up $1.29 during trading on Thursday, hitting $243.96. 473 shares of the company’s stock were exchanged, compared to its average volume of 51,412. The company has a current ratio of 32.42, a quick ratio of 32.42 and a debt-to-equity ratio of 0.35. Virtus Investment Partners has a 1 year low of $73.49 and a 1 year high of $270.00. The stock has a 50 day moving average price of $249.19 and a 200 day moving average price of $207.18. The firm has a market cap of $1.85 billion, a P/E ratio of 36.89 and a beta of 1.66.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Tuesday, February 2nd. The closed-end fund reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.20. Virtus Investment Partners had a net margin of 9.48% and a return on equity of 20.04%. The company had revenue of $153.54 million during the quarter, compared to the consensus estimate of $149.98 million. Analysts forecast that Virtus Investment Partners will post 15.88 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC raised its holdings in shares of Virtus Investment Partners by 28.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 112,410 shares of the closed-end fund’s stock worth $15,585,000 after purchasing an additional 25,096 shares during the period. State of Tennessee Treasury Department raised its holdings in shares of Virtus Investment Partners by 113.0% during the third quarter. State of Tennessee Treasury Department now owns 5,185 shares of the closed-end fund’s stock worth $718,000 after purchasing an additional 2,751 shares during the period. IndexIQ Advisors LLC raised its holdings in shares of Virtus Investment Partners by 11.5% during the fourth quarter. IndexIQ Advisors LLC now owns 2,752 shares of the closed-end fund’s stock worth $597,000 after purchasing an additional 284 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Virtus Investment Partners by 253.7% during the third quarter. Squarepoint Ops LLC now owns 7,286 shares of the closed-end fund’s stock worth $1,010,000 after purchasing an additional 5,226 shares during the period. Finally, Full18 Capital LLC acquired a new stake in shares of Virtus Investment Partners during the fourth quarter worth $1,021,000. 83.23% of the stock is currently owned by 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.

Featured Story: How to Calculate Compound Annual Growth Rate (CAGR)

Stock Target Advisor

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.