BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a report issued on Thursday, BidAskClub reports.

VRTS has been the subject of a number of other reports. Bank of America reiterated a neutral rating and issued a $118.00 target price (down from $130.00) on shares of Virtus Investment Partners in a research note on Thursday, June 6th. ValuEngine upgraded shares of Virtus Investment Partners from a strong sell rating to a sell rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Virtus Investment Partners from a hold rating to a strong-buy rating and set a $122.00 target price for the company in a research note on Saturday, July 13th. TheStreet cut shares of Virtus Investment Partners from a b- rating to a c+ rating in a research note on Thursday, May 16th. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Virtus Investment Partners has a consensus rating of Buy and a consensus target price of $108.33.

Shares of VRTS stock traded down $3.77 during trading on Thursday, hitting $119.08. 4,631 shares of the company were exchanged, compared to its average volume of 64,595. The company has a debt-to-equity ratio of 0.55, a quick ratio of 27.91 and a current ratio of 27.91. The firm has a market capitalization of $829.91 million, a price-to-earnings ratio of 9.71, a P/E/G ratio of 1.38 and a beta of 1.60. The business’s 50-day simple moving average is $104.11 and its 200 day simple moving average is $107.43. Virtus Investment Partners has a twelve month low of $70.00 and a twelve month high of $126.55.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, July 26th. The closed-end fund reported $3.63 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 analysts’ expectations of $144.92 million. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $2.73 earnings per share. On average, equities analysts forecast that Virtus Investment Partners will post 13.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.67 dividend. The ex-dividend date is Wednesday, October 30th. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.55. This represents a $2.68 dividend on an annualized basis and a yield of 2.25%. Virtus Investment Partners’s payout ratio is 17.94%.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTS. Quantamental Technologies LLC bought a new position in shares of Virtus Investment Partners in the second quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. bought a new position in shares of Virtus Investment Partners in the second quarter valued at approximately $64,000. Bank of Montreal Can raised its position in shares of Virtus Investment Partners by 327.5% in the second quarter. Bank of Montreal Can now owns 731 shares of the closed-end fund’s stock valued at $78,000 after purchasing an additional 560 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Virtus Investment Partners by 212.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,513 shares of the closed-end fund’s stock valued at $148,000 after purchasing an additional 1,028 shares during the period. Finally, HM Payson & Co. bought a new position in shares of Virtus Investment Partners in the second quarter valued at approximately $193,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.

Virtus Investment Partners Company Profile

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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