Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low – Here’s Why

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $174.81 and last traded at $174.45, with a volume of 14718 shares. The stock had previously closed at $181.64.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler dropped 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 note on Tuesday, January 21st. StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Morgan Stanley decreased their target price on 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. Finally, Barclays cut their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $225.75.

Virtus Investment Partners Stock Performance

The firm’s 50 day moving average is $196.66 and its 200 day moving average is $212.84. 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 stock has a market cap of $1.20 billion, a P/E ratio of 10.23 and a beta of 1.49.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a yield of 5.21%. Virtus Investment Partners’s dividend payout ratio (DPR) is 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP increased its holdings in Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after buying an additional 101 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Virtus Investment Partners by 170.3% during 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 in the last quarter. R Squared Ltd acquired a new stake in Virtus Investment Partners during the 4th quarter worth $75,000. KBC Group NV grew its position in shares of Virtus Investment Partners by 61.2% in the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock valued at $87,000 after purchasing an additional 150 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its position in Virtus Investment Partners by 57.2% during the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after buying 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.