Virtus Investment Partners (NASDAQ:VRTS) Sets New 12-Month Low on Analyst Downgrade

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low during trading on Wednesday after TD Cowen lowered their price target on the stock from $220.00 to $158.00. TD Cowen currently has a hold rating on the stock. Virtus Investment Partners traded as low as $145.92 and last traded at $147.08, with a volume of 43168 shares traded. The stock had previously closed at $150.98.

Several other research firms also recently weighed in on VRTS. Piper Sandler reduced their target price on Virtus Investment Partners from $252.00 to $216.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley dropped 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. 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 research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $193.00.

Institutional Investors Weigh In On Virtus Investment Partners

Several institutional investors have recently bought and sold shares of the business. Quarry LP increased its holdings in Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. Smartleaf Asset Management LLC boosted its position 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 buying an additional 126 shares during the period. R Squared Ltd acquired a new stake in shares of Virtus Investment Partners in the fourth quarter valued at about $75,000. KBC Group NV raised its holdings in shares of Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock valued at $87,000 after buying an additional 150 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Virtus Investment Partners during the 4th quarter worth approximately $203,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Virtus Investment Partners Stock Performance

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 fifty day simple moving average of $177.15 and a two-hundred day simple moving average of $206.96. The stock has a market cap of $1.10 billion, a PE ratio of 9.39 and a beta of 1.36.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s payout ratio is 53.25%.

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.