Virtus Investment Partners Inc. (VRTS) Given a $104.00 Price Target at Credit Suisse Group AG
Credit Suisse Group AG set a $104.00 target price on Virtus Investment Partners Inc. (NASDAQ:VRTS) in a research note released on Monday morning. The brokerage currently has a a buy rating on the closed-end fund’s stock.
VRTS has been the topic of a number of other research reports. Zacks Investment Research cut shares of Virtus Investment Partners from a hold rating to a sell rating in a research report on Thursday, June 30th. Jefferies Group increased their price objective on shares of Virtus Investment Partners from $74.00 to $87.00 and gave the stock a hold rating in a research report on Monday, August 8th.
Virtus Investment Partners (NASDAQ:VRTS) opened at 97.29 on Monday. Virtus Investment Partners has a 12 month low of $66.12 and a 12 month high of $141.97. The firm has a market cap of $750.88 million, a P/E ratio of 31.69 and a beta of 1.80. The firm’s 50-day moving average price is $90.00 and its 200-day moving average price is $80.51.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, July 29th. The closed-end fund reported $1.24 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by $0.08. The firm had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.86 million. Virtus Investment Partners had a net margin of 7.80% and a return on equity of 9.37%. The business’s revenue was down 19.6% compared to the same quarter last year. During the same period last year, the company posted $2.21 EPS. On average, equities research analysts expect that Virtus Investment Partners will post $5.22 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of Virtus Investment Partners during the second quarter valued at $124,561,000. Norges Bank acquired a new position in shares of Virtus Investment Partners during the fourth quarter valued at $8,097,000. Marcato Capital Management LP boosted its position in shares of Virtus Investment Partners by 28.6% in the first quarter. Marcato Capital Management LP now owns 59,305 shares of the closed-end fund’s stock valued at $4,632,000 after buying an additional 13,200 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Virtus Investment Partners by 1.0% in the first quarter. Franklin Resources Inc. now owns 337,319 shares of the closed-end fund’s stock valued at $26,348,000 after buying an additional 3,275 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Virtus Investment Partners during the second quarter valued at $24,967,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.
About Virtus Investment Partners
Virtus Investment Partners, Inc is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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