Virtus Investment Partners (NASDAQ:VRTS) Stock Gets Price Target Trim from Piper Sandler

Virtus Investment Partners (NASDAQ:VRTS) had its price objective decreased by research analysts at Piper Sandler from $172.00 to $146.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s target price points to a potential upside of 22.19% from the company’s current price.

A number of other brokerages also recently issued reports on VRTS. Morgan Stanley dropped their price objective on Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, September 25th. Barclays dropped their price objective on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. Zacks Research cut shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Finally, TD Cowen decreased their price target on shares of Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, October 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $129.75.

Virtus Investment Partners Trading Down 2.8%

VRTS traded down $3.44 during trading on Monday, reaching $119.49. 56,876 shares of the stock traded hands, compared to its average volume of 117,844. 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 $791.36 million, a PE ratio of 7.09 and a beta of 1.41. The stock’s 50-day moving average is $146.92 and its 200 day moving average is $147.16. Virtus Investment Partners has a 12 month low of $120.18 and a 12 month high of $185.94.

Insider Transactions at Virtus Investment Partners

In other news, Director W. Morris sold 435 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total value of $60,286.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Angerthal sold 14,975 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the completion of the transaction, the executive vice president owned 63,461 shares in the company, valued at $10,619,563.74. This represents a 19.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Virtus Investment Partners by 158.6% in the second quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock worth $26,000 after buying an additional 111 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Virtus Investment Partners in the first quarter worth about $26,000. Caitlin John LLC bought a new stake in Virtus Investment Partners during the 2nd quarter valued at approximately $35,000. Assetmark Inc. bought a new stake in Virtus Investment Partners during the 1st quarter valued at approximately $36,000. Finally, GAMMA Investing LLC boosted its position in Virtus Investment Partners by 86.2% during the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 125 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a U.S.-based asset management company that operates as a multi-manager investment platform. Through a collection of affiliated investment managers, the company provides investment strategies designed to address a range of investor objectives and risk profiles.

Virtus offers mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment solutions. Its affiliated managers provide expertise across domestic and international equities, fixed income, multi-asset strategies, alternatives and other specialized investment approaches.

The company traces its roots to 1995 and was previously associated with Phoenix Investment Partners before adopting the Virtus Investment Partners name.