Morgan Stanley Cuts Victory Capital (NASDAQ:VCTR) Price Target to $69.00

Victory Capital (NASDAQ:VCTR) had its target price reduced by equities researchers at Morgan Stanley from $70.00 to $69.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 0.18% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Victory Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on Victory Capital from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Finally, Barclays lowered their price target on Victory Capital from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Victory Capital Price Performance

Shares of VCTR stock traded down $2.08 during trading hours on Tuesday, hitting $69.13. The stock had a trading volume of 123,409 shares, compared to its average volume of 375,494. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.70 and a beta of 1.04. The stock’s 50-day moving average price is $65.39 and its two-hundred day moving average price is $66.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.26 and a quick ratio of 1.26. Victory Capital has a one year low of $47.00 and a one year high of $73.00.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.03. Victory Capital had a net margin of 25.27% and a return on equity of 24.23%. The company had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $361.14 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. Victory Capital’s quarterly revenue was up 60.1% on a year-over-year basis. Equities analysts forecast that Victory Capital will post 6.16 EPS for the current year.

Hedge Funds Weigh In On Victory Capital

Several institutional investors and hedge funds have recently modified their holdings of VCTR. Nisa Investment Advisors LLC grew its stake in shares of Victory Capital by 2,131.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 424 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC grew its position in shares of Victory Capital by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the company’s stock valued at $54,000 after purchasing an additional 511 shares during the period. CWM LLC raised its position in shares of Victory Capital by 29.0% during the 3rd quarter. CWM LLC now owns 973 shares of the company’s stock worth $63,000 after purchasing an additional 219 shares during the last quarter. AdvisorNet Financial Inc purchased a new position in Victory Capital in the 3rd quarter valued at about $65,000. Finally, Quantbot Technologies LP boosted its holdings in Victory Capital by 206.0% in the 2nd quarter. Quantbot Technologies LP now owns 1,224 shares of the company’s stock worth $78,000 after buying an additional 824 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Victory Capital

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.