Piper Sandler Issues Positive Forecast for Virtus Investment Partners (NASDAQ:VRTS) Stock Price

Virtus Investment Partners (NASDAQ:VRTS) had its price target upped by Piper Sandler from $264.00 to $274.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the closed-end fund’s stock.

VRTS has been the topic of a number of other research reports. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Monday. Barclays initiated coverage on shares of Virtus Investment Partners in a report on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $236.00.

Virtus Investment Partners Stock Down 0.3 %

Shares of NASDAQ VRTS opened at $246.92 on Wednesday. The business has a 50-day simple moving average of $220.60 and a two-hundred day simple moving average of $219.70. Virtus Investment Partners has a 52 week low of $190.42 and a 52 week high of $263.39. The company has a market cap of $1.73 billion, a P/E ratio of 15.01 and a beta of 1.45. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Virtus Investment Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 328,067 shares of the closed-end fund’s stock worth $74,092,000 after purchasing an additional 8,393 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Virtus Investment Partners by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock valued at $53,522,000 after buying an additional 16,586 shares in the last quarter. Geode Capital Management LLC lifted its position in Virtus Investment Partners by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after buying an additional 821 shares during the last quarter. WCM Investment Management LLC boosted its stake in Virtus Investment Partners by 4.0% in the third quarter. WCM Investment Management LLC now owns 113,892 shares of the closed-end fund’s stock worth $23,670,000 after buying an additional 4,359 shares in the last quarter. Finally, Basswood Capital Management L.L.C. boosted its stake in Virtus Investment Partners by 12.4% in the third quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after buying an additional 12,193 shares in the last quarter. 80.52% of the stock is currently 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.