Piper Sandler Issues Pessimistic Forecast for Virtus Investment Partners (NASDAQ:VRTS) Stock Price

Virtus Investment Partners (NASDAQ:VRTS) had its target price trimmed by Piper Sandler from $274.00 to $258.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the closed-end fund’s stock.

Several other research firms also recently issued reports on VRTS. Barclays cut their target price on Virtus Investment Partners from $239.00 to $221.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley raised their price objective on Virtus Investment Partners from $224.00 to $228.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Finally, StockNews.com downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Virtus Investment Partners has a consensus rating of “Hold” and an average price target of $238.50.

Virtus Investment Partners Stock Up 0.5 %

VRTS stock opened at $210.20 on Tuesday. The stock has a market capitalization of $1.48 billion, a PE ratio of 12.78 and a beta of 1.48. Virtus Investment Partners has a 52 week low of $190.42 and a 52 week high of $263.39. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $228.86 and a 200 day moving average of $220.10.

Virtus Investment Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be paid a $2.25 dividend. The ex-dividend date is Friday, January 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.28%. Virtus Investment Partners’s payout ratio is 54.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quarry LP grew its stake in shares of Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Virtus Investment Partners during the second quarter valued at $42,000. nVerses Capital LLC purchased a new position in Virtus Investment Partners in the third quarter valued at $42,000. Blue Trust Inc. boosted its stake in shares of Virtus Investment Partners by 138.3% during the 3rd quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock worth $72,000 after acquiring an additional 184 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Virtus Investment Partners during the 4th quarter worth about $75,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

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.