Intech Investment Management LLC Acquires 561 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Intech Investment Management LLC boosted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 63.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,452 shares of the closed-end fund’s stock after purchasing an additional 561 shares during the period. Intech Investment Management LLC’s holdings in Virtus Investment Partners were worth $304,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in shares of Virtus Investment Partners in the first quarter valued at about $657,000. Quest Partners LLC increased its position in shares of Virtus Investment Partners by 183.0% during the second quarter. Quest Partners LLC now owns 8,287 shares of the closed-end fund’s stock valued at $1,872,000 after buying an additional 5,359 shares during the period. Bailard Inc. purchased a new position in shares of Virtus Investment Partners during the second quarter valued at about $700,000. Meritage Portfolio Management increased its position in shares of Virtus Investment Partners by 36.1% during the third quarter. Meritage Portfolio Management now owns 22,321 shares of the closed-end fund’s stock valued at $4,675,000 after buying an additional 5,919 shares during the period. Finally, Millennium Management LLC increased its position in shares of Virtus Investment Partners by 14.6% during the second quarter. Millennium Management LLC now owns 28,113 shares of the closed-end fund’s stock valued at $6,349,000 after buying an additional 3,589 shares during the period. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Trading Up 2.6 %

Shares of VRTS stock opened at $252.82 on Thursday. Virtus Investment Partners, Inc. has a 12-month low of $190.42 and a 12-month high of $263.39. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $225.48 and its 200 day moving average is $220.42. The stock has a market capitalization of $1.77 billion, a P/E ratio of 15.37 and a beta of 1.46.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTS. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Piper Sandler boosted their price target on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Barclays began coverage on shares of Virtus Investment Partners in a research report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $236.00.

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.