Morgan Stanley Lowers Virtus Investment Partners (NASDAQ:VRTS) Price Target to $118.00

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Virtus Investment Partners (NASDAQ:VRTS) had its price target lowered by stock analysts at Morgan Stanley from $121.00 to $118.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the closed-end fund’s stock. Morgan Stanley’s price objective indicates a potential upside of 6.16% from the company’s current price.

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of YPF from a “sell” rating to a “hold” rating in a report on Monday, June 24th. TheStreet upgraded shares of ZTO Express (Cayman) from a “c+” rating to a “b” rating in a report on Thursday, May 16th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Zacks Investment Research upgraded shares of GRIFOLS S A/S from a “sell” rating to a “hold” rating in a report on Friday, April 12th. Finally, Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the stock a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $111.00.

Shares of NASDAQ VRTS traded up $2.53 during trading on Tuesday, hitting $111.15. 92,736 shares of the company traded hands, compared to its average volume of 74,925. Virtus Investment Partners has a 1 year low of $70.00 and a 1 year high of $134.25. The stock has a 50-day moving average of $106.08. The company has a market cap of $750.29 million, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.06 and a beta of 1.64.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, April 26th. The closed-end fund reported $2.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.42. The company had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $131.64 million. Virtus Investment Partners had a net margin of 13.35% and a return on equity of 20.19%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 EPS. On average, equities analysts expect that Virtus Investment Partners will post 13.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Virtus Investment Partners by 1.9% during the 4th quarter. BlackRock Inc. now owns 1,075,246 shares of the closed-end fund’s stock valued at $85,407,000 after buying an additional 19,717 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Virtus Investment Partners by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 562,751 shares of the closed-end fund’s stock valued at $44,700,000 after buying an additional 29,871 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Virtus Investment Partners by 70.0% during the 1st quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock valued at $12,213,000 after buying an additional 51,542 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Virtus Investment Partners by 11.0% during the 4th quarter. Bank of New York Mellon Corp now owns 104,923 shares of the closed-end fund’s stock valued at $8,334,000 after buying an additional 10,410 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Virtus Investment Partners during the 4th quarter valued at about $6,569,000. 93.80% of the stock is owned by 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.

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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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