Piper Sandler Forecasts Strong Price Appreciation for Virtus Investment Partners (NASDAQ:VRTS) Stock

Virtus Investment Partners (NASDAQ:VRTS) had its price target upped by analysts at Piper Sandler from $264.00 to $274.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s price objective suggests a potential upside of 11.54% from the company’s current price.

VRTS has been the topic of several other research reports. Barclays began coverage on shares of Virtus Investment Partners in a report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price objective on the stock. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley upped their target price 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 assigned a buy rating to the company’s stock. According to MarketBeat, Virtus Investment Partners currently has a consensus rating of “Hold” and a consensus price target of $236.00.

Virtus Investment Partners Stock Performance

Shares of VRTS stock traded down $2.02 during trading hours on Wednesday, reaching $245.65. 14,419 shares of the company’s stock were exchanged, compared to its average volume of 42,568. Virtus Investment Partners has a fifty-two week low of $190.42 and a fifty-two week high of $263.39. 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 stock has a market capitalization of $1.72 billion, a P/E ratio of 15.09 and a beta of 1.45. The business has a fifty day moving average price of $220.60 and a 200-day moving average price of $219.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its stake 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 purchasing an additional 101 shares during the last quarter. Blue Trust Inc. increased 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 buying an additional 131 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Virtus Investment Partners during the second quarter worth $42,000. nVerses Capital LLC acquired a new position in shares of Virtus Investment Partners during the third quarter valued at $42,000. Finally, CWM LLC boosted its holdings in Virtus Investment Partners by 334.1% in the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock valued at $86,000 after acquiring an additional 294 shares during the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

Virtus Investment Partners Company Profile

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.