Piper Sandler Has Lowered Expectations for Virtus Investment Partners (NASDAQ:VRTS) Stock Price

Virtus Investment Partners (NASDAQ:VRTS) had its target price cut by investment analysts at Piper Sandler from $216.00 to $211.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s price target would indicate a potential upside of 40.16% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Barclays cut their price objective on shares of Virtus Investment Partners from $200.00 to $149.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, TD Cowen decreased their price objective on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Virtus Investment Partners currently has an average rating of “Hold” and a consensus price target of $179.00.

Virtus Investment Partners Stock Performance

Virtus Investment Partners stock traded up $2.49 during mid-day trading on Thursday, reaching $150.54. 8,841 shares of the company’s stock were exchanged, compared to its average volume of 40,228. The business’s fifty day simple moving average is $172.89 and its 200 day simple moving average is $205.01. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners has a one year low of $144.13 and a one year high of $252.82. The firm has a market capitalization of $1.04 billion, a PE ratio of 8.89 and a beta of 1.36.

Institutional Trading of Virtus Investment Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its position in shares of Virtus Investment Partners by 10.6% in the first quarter. Exchange Traded Concepts LLC now owns 5,640 shares of the closed-end fund’s stock worth $972,000 after purchasing an additional 542 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Virtus Investment Partners by 8,517.5% in the 1st quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund’s stock worth $1,188,000 after buying an additional 6,814 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Virtus Investment Partners by 174.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,511 shares of the closed-end fund’s stock valued at $774,000 after buying an additional 2,233 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Virtus Investment Partners by 5.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,329 shares of the closed-end fund’s stock worth $3,822,000 after acquiring an additional 913 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in Virtus Investment Partners by 23.0% in the fourth quarter. Voloridge Investment Management LLC now owns 2,831 shares of the closed-end fund’s stock worth $624,000 after acquiring an additional 529 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

About Virtus Investment Partners

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.