Virtus Investment Partners (NASDAQ:VRTS) Sets New 52-Week Low – Here’s Why

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low on Friday . The stock traded as low as $180.18 and last traded at $179.21, with a volume of 16385 shares traded. The stock had previously closed at $182.29.

Wall Street Analyst Weigh In

VRTS has been the subject of a number of recent research reports. Morgan Stanley reduced their target price 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. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Barclays lowered their target price 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. Finally, StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $225.75.

Virtus Investment Partners Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The firm has a market cap of $1.26 billion, a P/E ratio of 10.65 and a beta of 1.47. The company’s 50-day moving average is $208.38 and its two-hundred day moving average is $214.75.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Friday, January 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRTS. Quarry LP boosted its holdings 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 valued at $27,000 after purchasing an additional 101 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Virtus Investment Partners by 170.3% during the 4th 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 last quarter. Blue Trust Inc. lifted its position 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 buying an additional 184 shares during the last quarter. R Squared Ltd acquired a new stake in Virtus Investment Partners in the fourth quarter valued at about $75,000. Finally, KBC Group NV grew its position in 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 acquiring an additional 150 shares during the last quarter. 80.52% of the stock is owned by 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.