Virtus Investment Partners Inc. (NASDAQ:VRTS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

A number of other equities analysts have also weighed in on the stock. Credit Suisse Group AG upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $90.00 to $91.00 in a research report on Thursday, July 14th. Jefferies Group lifted their target price on shares of Virtus Investment Partners from $74.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, August 8th.

Virtus Investment Partners (NASDAQ:VRTS) traded down 1.72% during trading on Tuesday, hitting $97.85. 36,379 shares of the stock were exchanged. The stock has a market cap of $755.21 million, a P/E ratio of 31.87 and a beta of 1.79. Virtus Investment Partners has a 12 month low of $66.12 and a 12 month high of $141.97. The stock’s 50 day moving average price is $93.76 and its 200 day moving average price is $82.38.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by $0.08. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.86 million. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The business’s revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Analysts forecast that Virtus Investment Partners will post $5.25 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Virtus Investment Partners by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,046 shares of the closed-end fund’s stock worth $1,570,000 after buying an additional 294 shares during the period. Prudential Financial Inc. increased its position in shares of Virtus Investment Partners by 1.9% in the first quarter. Prudential Financial Inc. now owns 16,308 shares of the closed-end fund’s stock worth $1,274,000 after buying an additional 300 shares during the period. Alliancebernstein L.P. increased its position in shares of Virtus Investment Partners by 2.7% in the second quarter. Alliancebernstein L.P. now owns 11,523 shares of the closed-end fund’s stock worth $820,000 after buying an additional 300 shares during the period. Ameriprise Financial Inc. increased its position in shares of Virtus Investment Partners by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 31,530 shares of the closed-end fund’s stock worth $2,244,000 after buying an additional 423 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Virtus Investment Partners by 5.5% in the second quarter. BlackRock Group LTD now owns 8,639 shares of the closed-end fund’s stock worth $615,000 after buying an additional 448 shares during the period. 96.23% of the stock is currently owned by institutional investors.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.

5 Day Chart for NASDAQ:VRTS

Receive News & Stock Ratings for Virtus Investment Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners Inc. and related stocks with our FREE daily email newsletter.