Virtus Investment Partners Inc (VRTS) is Upgraded by Credit Suisse to Outperform

Virtus Investment Partners Inc (VRTS) was Upgraded by Credit Suisse to ” Outperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 15, 2016.

On the company’s financial health, Virtus Investment Partners Inc reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.08. The company had revenue of $80.30 million for the quarter, 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.

Virtus Investment Partners Inc opened for trading at $78.19 and hit $78.91 on the upside on Wednesday, eventually ending the session at $78.88, with a gain of 0.63% or 0.49 points. The heightened volatility saw the trading volume jump to 61,045 shares. Company has a market cap of $652 M.

Investors should note that on May 26, 2016, Virtus Investment Partners Inc announced a cash dividend of $0.4500. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 12, 2016.

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.

Virtus Investment Partners Inc

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