Virtus Investment Partners (NASDAQ:VRTS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Virtus Investment Partners (NASDAQ:VRTS) had its price objective hoisted by stock analysts at Piper Sandler from $264.00 to $274.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s target price suggests a potential upside of 11.54% from the stock’s previous close.

A number of other brokerages have also recently weighed in on VRTS. Morgan Stanley lifted their target price on Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a report on Friday, October 18th. StockNews.com downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays started coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Virtus Investment Partners presently has an average rating of “Hold” and a consensus price target of $236.00.

Virtus Investment Partners Price Performance

NASDAQ:VRTS traded down $2.02 during trading hours on Wednesday, reaching $245.65. 14,419 shares of the company traded hands, compared to its average volume of 42,568. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. Virtus Investment Partners has a 1-year low of $190.42 and a 1-year high of $263.39. The firm’s 50-day moving average is $220.60 and its 200-day moving average is $219.70. The stock has a market cap of $1.72 billion, a P/E ratio of 15.09 and a beta of 1.45.

Institutional Investors Weigh In On Virtus Investment Partners

Several hedge funds have recently bought and sold shares of VRTS. Quarry LP raised its position in Virtus Investment Partners by 388.5% during the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. raised its holdings in Virtus Investment Partners by 6,550.0% during the second quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock valued at $33,000 after buying an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Virtus Investment Partners in the 2nd quarter valued at approximately $42,000. nVerses Capital LLC acquired a new stake in Virtus Investment Partners in the 3rd quarter worth approximately $42,000. Finally, CWM LLC boosted its position in Virtus Investment Partners by 334.1% during the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock worth $86,000 after purchasing an additional 294 shares during the period. 80.52% of the stock is owned by hedge funds and other institutional investors.

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.