Virtus Investment Partners (VRTS) Lowered by BidaskClub

Virtus Investment Partners (VRTS) Lowered by BidaskClub

Virtus Investment Partners (NASDAQ:VRTS) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday, September 15th.

Several other research firms also recently issued reports on VRTS. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Saturday, June 30th. Credit Suisse Group lifted their target price on shares of Virtus Investment Partners from $174.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Sandler O’Neill set a $140.00 target price on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research note on Friday, July 13th. ValuEngine downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Finally, Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $137.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Virtus Investment Partners presently has an average rating of “Hold” and an average target price of $142.38.

NASDAQ:VRTS traded down $0.44 on Friday, hitting $113.06. The company had a trading volume of 45,100 shares, compared to its average volume of 52,330. The company has a market cap of $815.15 million, a price-to-earnings ratio of 14.73, a PEG ratio of 0.37 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 27.62 and a quick ratio of 27.62. Virtus Investment Partners has a 52 week low of $106.55 and a 52 week high of $138.02.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 27th. The closed-end fund reported $2.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.02 by ($0.05). The company had revenue of $132.93 million during the quarter, compared to the consensus estimate of $134.07 million. Virtus Investment Partners had a net margin of 13.76% and a return on equity of 17.39%. Virtus Investment Partners’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. As a group, analysts expect that Virtus Investment Partners will post 12.36 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of VRTS. Vulcan Value Partners LLC grew its holdings in shares of Virtus Investment Partners by 106.9% during the second quarter. Vulcan Value Partners LLC now owns 533,272 shares of the closed-end fund’s stock valued at $69,475,000 after buying an additional 275,535 shares during the last quarter. BlackRock Inc. boosted its holdings in Virtus Investment Partners by 9.3% during the second quarter. BlackRock Inc. now owns 1,016,158 shares of the closed-end fund’s stock worth $130,017,000 after purchasing an additional 86,152 shares during the last quarter. Millennium Management LLC boosted its holdings in Virtus Investment Partners by 183.9% during the second quarter. Millennium Management LLC now owns 93,920 shares of the closed-end fund’s stock worth $12,017,000 after purchasing an additional 60,838 shares during the last quarter. New Amsterdam Partners LLC NY purchased a new position in Virtus Investment Partners during the second quarter worth about $4,545,000. Finally, Gendell Jeffrey L purchased a new position in Virtus Investment Partners during the first quarter worth about $1,106,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

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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