Virtus Investment Partners (NASDAQ:VRTS) Hits New 52-Week Low – What’s Next?

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price hit a new 52-week low on Thursday . The company traded as low as $160.17 and last traded at $163.88, with a volume of 15727 shares. The stock had previously closed at $175.01.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRTS. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Piper Sandler decreased their target price on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays lowered their target price on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Virtus Investment Partners has a consensus rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Trading Down 2.2 %

The firm’s 50 day simple moving average is $182.74 and its 200-day simple moving average is $208.88. The company has a market capitalization of $1.10 billion, a PE ratio of 9.36 and a beta of 1.49. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Dividend Announcement

The business 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 $2.25 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 annualized dividend and a yield of 5.69%. Virtus Investment Partners’s dividend payout ratio is currently 53.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its position in 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 acquiring an additional 101 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $44,000 after purchasing an additional 126 shares during the period. R Squared Ltd acquired a new stake in Virtus Investment Partners during the 4th quarter valued at $75,000. KBC Group NV increased its stake in 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 during the period. Finally, Point72 DIFC Ltd lifted its holdings in Virtus Investment Partners by 57.2% in 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 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.