Virtus Investment Partners (NASDAQ:VRTS) Hits New 1-Year Low – Here’s What Happened

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $143.98 and last traded at $143.98, with a volume of 10436 shares. The stock had previously closed at $148.96.

Analysts Set New Price Targets

Several brokerages have issued reports on VRTS. Barclays cut their target price on Virtus Investment Partners from $200.00 to $149.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley cut their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. TD Cowen decreased their price target on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler dropped their price objective on Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $179.00.

Virtus Investment Partners Stock Performance

The company has a market capitalization of $985.45 million, a PE ratio of 8.41 and a beta of 1.36. 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 business’s 50-day moving average is $171.37 and its 200-day moving average is $204.20.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Hedge Funds Weigh In On Virtus Investment Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund’s stock worth $44,000 after purchasing an additional 126 shares during the last quarter. R Squared Ltd bought a new position in shares of Virtus Investment Partners during the 4th quarter valued at approximately $75,000. KBC Group NV grew its stake in shares of Virtus Investment Partners by 61.2% in the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after buying an additional 150 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Virtus Investment Partners during the 4th quarter valued at approximately $203,000. Finally, Trexquant Investment LP purchased a new stake in Virtus Investment Partners during the 4th quarter valued at $209,000. 80.52% of the stock is currently owned by institutional investors.

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.