Virtus Investment Partners Inc (VRTS) reported quarterly earnings results on Friday, Apr-29-2016. The company said it had a profit of $1.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $1.08. The company posted revenue of $80.30 million in the period, compared to analysts expectations of $81.08 million. The company’s revenue was down -22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS.
Many Wall Street Analysts have commented on Virtus Investment Partners Inc. Shares were Downgraded by Jefferies on Mar 10, 2016 to ” Hold” and Lowered the Price Target to $ 74 from a previous price target of $99 .
Virtus Investment Partners Inc opened for trading at $69.98 and hit $71.44 on the upside on Wednesday, eventually ending the session at $70.72, with a gain of 0.31% or 0.22 points. The heightened volatility saw the trading volume jump to 1,27,856 shares. Company has a market cap of $595 M.
In a different news, on Dec 2, 2015, William Patrick Iii Bradley (SVP, Fund Services) sold 210 shares at $140.00 per share price.
Virtus Investment Partners Inc. (Virtus) is a provider of investment management and related services to individuals and institutions. The Company’s retail products include open-end mutual funds closed-end funds variable insurance funds and separately managed accounts. Its open-end mutual funds are distributed through intermediaries. Its closed-end funds trade on the New York Stock Exchange. Its variable insurance funds are available as investment options in variable annuities and life insurance products distributed by life insurance companies. Separately managed accounts consists of intermediary programs sponsored and distributed by unaffiliated brokerage firms and private client accounts which are offered to the high net-worth clients of its affiliated managers. The Company also manages institutional accounts for corporations multi-employer retirement funds public employee retirement systems foundations endowments and as a sub-adviser to unaffiliated mutual funds.