Virtus Investment Partners (NASDAQ:VRTS) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research analysts also recently commented on VRTS. Bank of America reaffirmed a neutral rating and set a $118.00 price objective (down previously from $130.00) on shares of Virtus Investment Partners in a research note on Thursday, June 6th. Zacks Investment Research raised shares of Virtus Investment Partners from a hold rating to a strong-buy rating and set a $122.00 price objective for the company in a research note on Saturday, July 13th. Morgan Stanley dropped 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. TheStreet downgraded shares of Virtus Investment Partners from a b- rating to a c+ rating in a research note on Thursday, May 16th. Finally, ValuEngine downgraded shares of Virtus Investment Partners from a sell rating to a strong sell rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $108.33.

Shares of VRTS stock opened at $103.43 on Wednesday. The firm has a 50-day moving average price of $104.42 and a 200 day moving average price of $106.42. Virtus Investment Partners has a twelve month low of $70.00 and a twelve month high of $130.80. The company has a market capitalization of $718.31 million, a price-to-earnings ratio of 8.44, a PEG ratio of 1.20 and a beta of 1.64. 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 (NASDAQ:VRTS) last announced its earnings results on Friday, July 26th. The closed-end fund reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The firm had revenue of $140.49 million during the quarter, compared to the consensus estimate of $144.92 million. During the same quarter in the previous year, the company posted $2.73 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts predict that Virtus Investment Partners will post 13.84 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. Virtus Investment Partners’s dividend payout ratio is currently 17.94%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. GYL Financial Synergies LLC acquired a new stake in Virtus Investment Partners during the 1st quarter worth approximately $979,000. Marshall Wace LLP acquired a new stake in Virtus Investment Partners during the 1st quarter worth approximately $1,817,000. Clark Capital Management Group Inc. acquired a new stake in Virtus Investment Partners during the 2nd quarter worth approximately $3,410,000. Norges Bank acquired a new stake in Virtus Investment Partners during the 4th quarter worth approximately $6,569,000. Finally, Virginia Retirement Systems ET AL increased its position in Virtus Investment Partners by 16.2% during the 1st quarter. Virginia Retirement Systems ET AL now owns 13,600 shares of the closed-end fund’s stock worth $1,327,000 after purchasing an additional 1,900 shares in the last quarter. 94.99% of the stock is 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.

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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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