Victory Capital Management Inc. Buys 4,175 Shares of Virtus Investment Partners Inc. (VRTS)
Victory Capital Management Inc. increased its stake in Virtus Investment Partners Inc. (NASDAQ:VRTS) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 461,450 shares of the closed-end fund’s stock after buying an additional 4,175 shares during the period. Victory Capital Management Inc. owned approximately 5.98% of Virtus Investment Partners worth $45,157,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of VRTS. BlackRock Inc. boosted its position in Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares during the period. BNP Paribas Arbitrage SA boosted its position in Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock valued at $146,000 after buying an additional 957 shares during the last quarter. Loews Corp purchased a new position in Virtus Investment Partners during the second quarter valued at $205,000. Louisiana State Employees Retirement System purchased a new position in Virtus Investment Partners during the third quarter valued at $245,000. Finally, Arizona State Retirement System boosted its position in Virtus Investment Partners by 0.9% in the third quarter. Arizona State Retirement System now owns 3,000 shares of the closed-end fund’s stock valued at $294,000 after buying an additional 28 shares during the last quarter. Institutional investors own 96.65% of the company’s stock.
Virtus Investment Partners Inc. (NASDAQ:VRTS) traded up 0.04% during midday trading on Wednesday, hitting $115.45. The stock had a trading volume of 6,901 shares. The firm has a 50-day moving average of $104.21 and a 200 day moving average of $89.96. Virtus Investment Partners Inc. has a 52-week low of $66.12 and a 52-week high of $141.97. The firm has a market capitalization of $679.77 million, a P/E ratio of 22.54 and a beta of 1.77.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, October 28th. The closed-end fund reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.16. Virtus Investment Partners had a net margin of 12.99% and a return on equity of 9.15%. The business had revenue of $82.30 million for the quarter, compared to analyst estimates of $80.77 million. During the same period in the previous year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, equities analysts forecast that Virtus Investment Partners Inc. will post $5.75 EPS for the current year.
Several equities analysts have recently weighed in on VRTS shares. TheStreet raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Thursday, November 10th. Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, October 13th. Credit Suisse Group AG set a $104.00 price target on Virtus Investment Partners and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Jefferies Group increased their price target on Virtus Investment Partners from $74.00 to $87.00 and gave the company a “hold” rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $97.00.
In other Virtus Investment Partners news, major shareholder Of Montreal /Can/ Bank sold 1,727,746 shares of Virtus Investment Partners stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $93.50, for a total value of $161,544,251.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.30% of the stock is currently owned by company insiders.
About Virtus Investment Partners
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.
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