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

Virtus Investment Partners (NASDAQ:VRTS) had its target price lifted by analysts at Morgan Stanley from $224.00 to $228.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s price objective points to a potential upside of 2.88% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday. Barclays lifted their price objective on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Finally, Piper Sandler upped their price objective on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $247.00.

Virtus Investment Partners Stock Performance

Shares of VRTS traded up $3.74 during midday trading on Friday, reaching $221.62. The stock had a trading volume of 21,777 shares, compared to its average volume of 42,175. 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 firm has a 50 day simple moving average of $232.64 and a 200-day simple moving average of $221.09. The firm has a market cap of $1.56 billion, a PE ratio of 13.47 and a beta of 1.46. Virtus Investment Partners has a one year low of $190.42 and a one year high of $263.39.

Hedge Funds Weigh In On Virtus Investment Partners

A number of large investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of 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. lifted its stake in shares of Virtus Investment Partners by 6,550.0% in the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock valued at $33,000 after purchasing an additional 131 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Virtus Investment Partners during the second quarter worth about $42,000. nVerses Capital LLC purchased a new position in shares of Virtus Investment Partners during the third quarter valued at approximately $42,000. Finally, Point72 DIFC Ltd boosted its position in shares of Virtus Investment Partners by 57.2% in the 3rd quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after purchasing an additional 222 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

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.