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

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached 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.

Analysts Set New Price Targets

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

Virtus Investment Partners Stock Down 5.2 %

The stock has a 50-day moving average price of $198.51 and a 200-day moving average price of $213.39. The company has a market capitalization of $1.20 billion, a P/E ratio of 10.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners Announces Dividend

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 5.23%. 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

Several hedge funds and other institutional investors have recently bought and sold shares of VRTS. Quarry LP raised its position in shares of Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 in the last quarter. R Squared Ltd acquired a new position in Virtus Investment Partners in the fourth quarter valued at approximately $75,000. KBC Group NV boosted 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 worth $87,000 after buying an additional 150 shares in the last quarter. Finally, Point72 DIFC Ltd grew its position in shares of Virtus Investment Partners by 57.2% during the 3rd quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 80.52% of the company’s stock.

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.