Eqis Capital Management Inc. trimmed its holdings in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,335 shares of the closed-end fund’s stock after selling 156 shares during the period. Eqis Capital Management Inc.’s holdings in Virtus Investment Partners were worth $258,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Virtus Investment Partners during the third quarter valued at about $34,000. Quantamental Technologies LLC purchased a new position in Virtus Investment Partners during the 2nd quarter worth $34,000. C M Bidwell & Associates Ltd. purchased a new position in Virtus Investment Partners during the 2nd quarter worth $64,000. Bank of Montreal Can grew its position in Virtus Investment Partners by 327.5% during the 2nd quarter. Bank of Montreal Can now owns 731 shares of the closed-end fund’s stock worth $78,000 after purchasing an additional 560 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Virtus Investment Partners during the 3rd quarter worth $127,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research raised shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Sunday, November 3rd. Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Bank of America upgraded shares of Virtus Investment Partners from a “neutral” rating to a “buy” rating in a research report on Monday, October 14th. Finally, Barclays boosted their price objective on shares of Virtus Investment Partners from $105.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $110.33.
VRTS opened at $116.44 on Monday. Virtus Investment Partners Inc has a 12-month low of $70.00 and a 12-month high of $126.55. The stock has a 50-day moving average price of $105.87 and a 200-day moving average price of $107.57. The stock has a market capitalization of $795.17 million, a P/E ratio of 9.50, a PEG ratio of 2.05 and a beta of 1.54.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, October 25th. The closed-end fund reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.34. Virtus Investment Partners had a return on equity of 21.89% and a net margin of 13.49%. The business had revenue of $146.00 million during the quarter, compared to analyst estimates of $146.51 million. During the same quarter in the prior year, the company posted $3.93 EPS. Virtus Investment Partners’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts expect that Virtus Investment Partners Inc will post 14.37 EPS for the current fiscal year.
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.
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