Virtus Investment Partners (NASDAQ:VRTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $145.00 price target on the closed-end fund’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.35% from the stock’s current price.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

Several other equities analysts also recently issued reports on the stock. Sandler O’Neill set a $132.00 price objective on shares of Virtus Investment Partners and gave the company a “hold” rating in a research note on Thursday. Goldman Sachs Group upgraded shares of Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 price objective for the company in a research note on Tuesday, January 9th. BidaskClub upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. TheStreet upgraded shares of Virtus Investment Partners from a “c+” rating to a “b” rating in a research note on Thursday, November 30th. Finally, Barclays upped their price objective on shares of Virtus Investment Partners from $116.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, October 30th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Virtus Investment Partners has a consensus rating of “Hold” and a consensus target price of $132.13.

Virtus Investment Partners (VRTS) opened at $131.40 on Friday. Virtus Investment Partners has a 12 month low of $97.60 and a 12 month high of $132.85. The stock has a market cap of $940.56, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 0.33 and a beta of 1.90.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company had revenue of $123.70 million during the quarter, compared to analyst estimates of $116.85 million. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue was up 50.3% on a year-over-year basis. research analysts forecast that Virtus Investment Partners will post 7.54 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Virtus Investment Partners by 17.7% in the second quarter. Goldman Sachs Group Inc. now owns 20,622 shares of the closed-end fund’s stock valued at $2,288,000 after buying an additional 3,100 shares during the last quarter. State Street Corp raised its holdings in shares of Virtus Investment Partners by 6.8% in the second quarter. State Street Corp now owns 154,490 shares of the closed-end fund’s stock valued at $17,136,000 after buying an additional 9,784 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Virtus Investment Partners by 73.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after buying an additional 1,150 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Virtus Investment Partners by 17.8% in the second quarter. California State Teachers Retirement System now owns 11,921 shares of the closed-end fund’s stock valued at $1,323,000 after buying an additional 1,800 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Virtus Investment Partners by 21.6% in the second quarter. Teachers Advisors LLC now owns 11,940 shares of the closed-end fund’s stock valued at $1,325,000 after buying an additional 2,121 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

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Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc (Virtus) 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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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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