Virtus Investment Partners (NASDAQ:VRTS) Given New $112.00 Price Target at Morgan Stanley

Virtus Investment Partners (NASDAQ:VRTS) had its target price cut by equities researchers at Morgan Stanley from $128.00 to $112.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s price target would indicate a potential downside of 16.43% from the company’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler dropped their target price on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Barclays dropped their price objective on shares of Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Finally, TD Cowen cut their price target on Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating for the company in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Virtus Investment Partners has a consensus rating of “Reduce” and a consensus target price of $134.50.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS traded down $6.16 during midday trading on Tuesday, reaching $134.03. 23,165 shares of the company were exchanged, compared to its average volume of 99,893. The stock has a fifty day simple moving average of $136.15 and a 200 day simple moving average of $150.63. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a market cap of $895.56 million, a P/E ratio of 7.95 and a beta of 1.41. Virtus Investment Partners has a 1 year low of $121.61 and a 1 year high of $215.06.

Insider Buying and Selling at Virtus Investment Partners

In other news, Director W Howard Morris bought 2,150 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $129.34 per share, with a total value of $278,081.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at $258,680. This represents a -1,433.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Virtus Investment Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTS. Victory Capital Management Inc. increased its position in Virtus Investment Partners by 109.4% during the 3rd quarter. Victory Capital Management Inc. now owns 229,357 shares of the closed-end fund’s stock worth $43,585,000 after purchasing an additional 119,802 shares in the last quarter. AlphaQuest LLC lifted its position in Virtus Investment Partners by 224.8% during the third quarter. AlphaQuest LLC now owns 10,944 shares of the closed-end fund’s stock valued at $2,080,000 after buying an additional 7,575 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Virtus Investment Partners by 2,043.0% during the third quarter. Teacher Retirement System of Texas now owns 26,059 shares of the closed-end fund’s stock worth $4,952,000 after buying an additional 24,843 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Virtus Investment Partners during the third quarter worth approximately $3,307,000. Finally, CenterBook Partners LP increased its position in shares of Virtus Investment Partners by 261.8% in the third quarter. CenterBook Partners LP now owns 14,054 shares of the closed-end fund’s stock worth $2,671,000 after acquiring an additional 10,170 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

About Virtus Investment Partners

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.