Virtus Investment Partners (NASDAQ:VRTS) Reaches New 1-Year Low – Here’s Why

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low on Thursday . The company traded as low as $160.17 and last traded at $163.88, with a volume of 15727 shares traded. The stock had previously closed at $175.01.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Morgan Stanley lowered their price target on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Barclays reduced their price objective on Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, February 3rd. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $225.75.

Virtus Investment Partners Trading Down 2.2 %

The firm has a market cap of $1.10 billion, a P/E ratio of 9.36 and a beta of 1.49. 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 firm has a fifty day moving average of $182.74 and a 200-day moving average of $208.88.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is 53.25%.

Institutional Trading of Virtus Investment Partners

A number of large investors have recently modified their holdings of VRTS. BNP Paribas Financial Markets boosted its position in shares of Virtus Investment Partners by 22.6% during the third quarter. BNP Paribas Financial Markets now owns 4,304 shares of the closed-end fund’s stock worth $901,000 after buying an additional 794 shares during the period. Verition Fund Management LLC boosted its position in Virtus Investment Partners by 219.0% during the 3rd quarter. Verition Fund Management LLC now owns 3,688 shares of the closed-end fund’s stock worth $772,000 after acquiring an additional 2,532 shares during the period. HighTower Advisors LLC grew its stake in shares of Virtus Investment Partners by 21.5% in the third quarter. HighTower Advisors LLC now owns 1,157 shares of the closed-end fund’s stock worth $242,000 after purchasing an additional 205 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Virtus Investment Partners during the third quarter valued at $482,000. Finally, Point72 DIFC Ltd raised its stake in shares of Virtus Investment Partners by 57.2% during the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock valued at $128,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds 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.