Barclays Cuts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $221.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target reduced by equities research analysts at Barclays from $239.00 to $221.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the closed-end fund’s stock. Barclays‘s price target would indicate a potential upside of 5.70% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Morgan Stanley increased their price target on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Finally, Piper Sandler boosted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $242.50.

Virtus Investment Partners Stock Performance

Virtus Investment Partners stock traded down $1.91 during midday trading on Friday, reaching $209.08. 15,516 shares of the company’s stock were exchanged, compared to its average volume of 31,857. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The stock’s 50-day simple moving average is $231.37 and its 200 day simple moving average is $220.56. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 12.71 and a beta of 1.48. Virtus Investment Partners has a 52 week low of $190.42 and a 52 week high of $263.39.

Hedge Funds Weigh In On Virtus Investment Partners

A number of hedge funds have recently added to or reduced their stakes in VRTS. Quarry LP grew its holdings in shares of Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Virtus Investment Partners during the second quarter worth about $42,000. nVerses Capital LLC acquired a new stake in Virtus Investment Partners during the third quarter worth about $42,000. Blue Trust Inc. grew its stake in Virtus Investment Partners by 138.3% during the third quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock worth $72,000 after buying an additional 184 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in Virtus Investment Partners by 57.2% in the 3rd quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock valued at $128,000 after buying an additional 222 shares during the period. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Company 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.