Virtus Investment Partners (NASDAQ:VRTS) Stock Price Target Raised at Piper Sandler

Virtus Investment Partners (NASDAQ:VRTS) had its price objective increased by equities researchers at Piper Sandler from $146.00 to $162.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler‘s price target would suggest a potential upside of 15.32% from the company’s previous close.

Other analysts have also issued reports about the company. Morgan Stanley lowered their price objective on Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, September 25th. Zacks Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. TD Cowen reduced their target price on shares of Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Finally, Barclays reduced their target price on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $133.75.

Virtus Investment Partners Trading Up 10.3%

VRTS stock opened at $140.47 on Tuesday. The company has a market cap of $930.35 million, a P/E ratio of 8.31 and a beta of 1.44. Virtus Investment Partners has a twelve month low of $116.71 and a twelve month high of $175.66. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $132.80 and a 200-day moving average of $144.06.

Insider Transactions at Virtus Investment Partners

In other Virtus Investment Partners news, Director W. Morris sold 435 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total transaction of $60,286.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Virtus Investment Partners

A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Virtus Investment Partners by 17.6% during the third quarter. Russell Investments Group Ltd. now owns 11,721 shares of the closed-end fund’s stock valued at $1,551,000 after purchasing an additional 1,754 shares during the period. Illinois Municipal Retirement Fund increased its stake in Virtus Investment Partners by 3.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 3,585 shares of the closed-end fund’s stock worth $474,000 after purchasing an additional 106 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Virtus Investment Partners during the 3rd quarter worth approximately $777,000. International Assets Investment Management LLC raised its holdings in Virtus Investment Partners by 3,378.3% during the 3rd quarter. International Assets Investment Management LLC now owns 80,000 shares of the closed-end fund’s stock worth $10,586,000 after buying an additional 77,700 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Virtus Investment Partners during the 3rd quarter worth approximately $1,138,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.