Piper Sandler Has Lowered Expectations for Virtus Investment Partners (NASDAQ:VRTS) Stock Price

Virtus Investment Partners (NASDAQ:VRTS) had its target price lowered by stock analysts at Piper Sandler from $274.00 to $258.00 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 objective points to a potential upside of 23.65% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Barclays decreased their target price on Virtus Investment Partners from $239.00 to $221.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. StockNews.com downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley upped their price objective on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $238.50.

Virtus Investment Partners Trading Down 1.0 %

NASDAQ VRTS opened at $208.65 on Tuesday. The firm has a market capitalization of $1.46 billion, a PE ratio of 12.68 and a beta of 1.48. The business’s 50-day moving average price is $228.86 and its two-hundred day moving average price is $220.10. 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 has a 12 month low of $190.42 and a 12 month high of $263.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in shares of Virtus Investment Partners by 592.0% during the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock valued at $1,931,000 after purchasing an additional 7,886 shares during the period. JPMorgan Chase & Co. increased its stake in Virtus Investment Partners by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock worth $30,451,000 after purchasing an additional 3,651 shares during the period. Private Client Services LLC bought a new stake in Virtus Investment Partners during the 4th quarter valued at $799,000. Point72 Asset Management L.P. bought a new position in shares of Virtus Investment Partners during the third quarter valued at about $482,000. Finally, Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 16,586 shares during the last quarter. 80.52% of the stock is owned by 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.