Point72 Asset Management L.P. Makes New $482,000 Investment in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Point72 Asset Management L.P. bought a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the third quarter, HoldingsChannel.com reports. The fund bought 2,300 shares of the closed-end fund’s stock, valued at approximately $482,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTS. Blue Trust Inc. raised its holdings in shares of Virtus Investment Partners by 6,550.0% in the second 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 last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Virtus Investment Partners in the second quarter valued at about $42,000. nVerses Capital LLC bought a new stake in shares of Virtus Investment Partners during the third quarter worth $42,000. CWM LLC raised its position in Virtus Investment Partners by 334.1% in the 2nd quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock valued at $86,000 after buying an additional 294 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Virtus Investment Partners in the 2nd quarter valued at $164,000. 80.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Barclays increased their price objective on Virtus Investment Partners from $212.00 to $239.00 and gave the stock an “underweight” rating in a research report on Monday. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Morgan Stanley lifted their price objective on shares of 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $244.25.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $243.79 on Thursday. The stock has a 50-day moving average price of $229.40 and a two-hundred day moving average price of $220.86. The company has a market capitalization of $1.71 billion, a PE ratio of 14.82 and a beta of 1.46. Virtus Investment Partners, Inc. has a 12 month low of $190.42 and a 12 month high of $263.39. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners 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.