UPDATE: Raymond James Downgrades Virtus Investment Partners (VRTS) to Market Perform

Raymond James analyst Elliot Wilbur downgraded Virtus Investment Partners (NASDAQ: VRTS) from Outperform to Market Perform.

The analyst comments "Net net, today’s release and management outlook have decidedly turned VTRS into much more of a show me story that it was already. Shares off nearly a quarter of their value from trading following the investor day, continuing to position the company in the bargain bin from a multiple standpoint, however at this stage given the recent split with primary growth engine coupled with increasing uncertainty around resumption of sustainable EBITDA growth, reliance on mere capital allocation strategies as the primary share price catalyst afford little more than near-term trading opportunities in our view."

For an analyst ratings summary and ratings history on Virtus Investment Partners click here. For more ratings news on Virtus Investment Partners click here.

Shares of Virtus Investment Partners closed at $240.62 yesterday.

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