Virtus Investment Partners (NASDAQ:VRTS) Stock Rating Cut to Strong Sell at Zacks Research

Virtus Investment Partners (NASDAQ:VRTS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

VRTS has been the topic of a number of other reports. Barclays reduced their price objective on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a research report on Wednesday. TD Cowen dropped their target price on Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research report on Monday. Finally, Morgan Stanley cut their target price on Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $135.75.

Virtus Investment Partners Price Performance

VRTS stock opened at $122.66 on Wednesday. Virtus Investment Partners has a 12 month low of $120.18 and a 12 month high of $192.00. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $147.77 and a 200 day moving average price of $147.21. The stock has a market cap of $812.38 million, a PE ratio of 7.26 and a beta of 1.41.

Insider Transactions at Virtus Investment Partners

In related news, Director W. Morris sold 435 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total value of $60,286.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Angerthal sold 14,975 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the completion of the transaction, the executive vice president directly owned 63,461 shares in the company, valued at $10,619,563.74. This represents a 19.09% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in shares of Virtus Investment Partners by 158.6% during the second quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock worth $26,000 after acquiring an additional 111 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Virtus Investment Partners during the first quarter valued at approximately $26,000. Caitlin John LLC purchased a new stake in shares of Virtus Investment Partners in the second quarter valued at approximately $35,000. Assetmark Inc. purchased a new stake in shares of Virtus Investment Partners in the first quarter valued at approximately $36,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Virtus Investment Partners by 86.2% in the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 125 shares during the period. 80.52% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a U.S.-based asset management company that operates as a multi-manager investment platform. Through a collection of affiliated investment managers, the company provides investment strategies designed to address a range of investor objectives and risk profiles.

Virtus offers mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment solutions. Its affiliated managers provide expertise across domestic and international equities, fixed income, multi-asset strategies, alternatives and other specialized investment approaches.

The company traces its roots to 1995 and was previously associated with Phoenix Investment Partners before adopting the Virtus Investment Partners name.