Virtus Investment Partners (NASDAQ:VRTS) Sets New 52-Week Low – Here’s Why

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $179.15 and last traded at $178.51, with a volume of 1903 shares trading hands. The stock had previously closed at $183.76.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VRTS shares. Barclays dropped their price objective on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler decreased their price target on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Morgan Stanley decreased 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Stock Performance

The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The company’s 50-day simple moving average is $201.98 and its 200-day simple moving average is $214.21. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.51 and a beta of 1.47.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

Several large investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Virtus Investment Partners by 174.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,511 shares of the closed-end fund’s stock worth $774,000 after buying an additional 2,233 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Virtus Investment Partners by 5.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,329 shares of the closed-end fund’s stock worth $3,822,000 after purchasing an additional 913 shares during the period. Voloridge Investment Management LLC grew its holdings in Virtus Investment Partners by 23.0% in the fourth quarter. Voloridge Investment Management LLC now owns 2,831 shares of the closed-end fund’s stock worth $624,000 after purchasing an additional 529 shares during the period. Vident Advisory LLC grew its holdings in Virtus Investment Partners by 4.5% in the fourth quarter. Vident Advisory LLC now owns 4,057 shares of the closed-end fund’s stock worth $895,000 after purchasing an additional 175 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Virtus Investment Partners by 8.5% in the fourth quarter. Two Sigma Advisers LP now owns 7,700 shares of the closed-end fund’s stock worth $1,698,000 after purchasing an additional 600 shares during the period. 80.52% of the stock is currently owned by institutional investors and hedge funds.

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.